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Citrus Girl Company (CGC) purchases quality citrus produce from local growers and sells the produce via the Internet across the United States. To keep costs down, CGC maintains a warehouse, but no showroom or retail sales outlets. CGC has the following information for the second quarter of the year Cost of goods sold is 40 percent of expected sales 4. Monthly operating expenses are estimated to be: 1. Expected monthly sales for April, May, June, and July are $290,000, $260.000, $380,000, and $160,000, respectively. 3. CGC's desired ending inventory is 30 percent of the following month's cost of goods sold. Salaries: $37,000 Utilities: $1,600 Other expenses: $280 Delivery expense: 6 percent of monthly sales . Rent expense on the warehouse: $8,000 . Insurance: $180 Required 1. Compute the budgeted cost of purchases for each month in the second quarter. April May June Total cost of budgeted purchasers 2. Complete the budgeted income statement for each month in the second quarter. CITRUS GIRL COMPANY Budgeted Income Statement For the Month Ending April 30 May 31 June 30 4