The data shown were obtained from the financial records of Italian Exports, Inc., for March:

The data shown were obtained from the financial records of Italian Exports, Inc., for March: Estimated Sales Sales Purchases $610,000 567,918 294,824 10% 50,320 Ending Inventory* Administrative Salaries Marketing Expense** Sales Commissions Rent Expense 5% 2% Depreciation Expense 7,500 1,000 2,500 15% Utilities Taxes*** *of next month's sales **of estimated sales ***of income before taxes Sales are expected to increase each month by 10%. Prepare a budgeted income statement. Round your answers to the nearest dollar. Italian Exports, Inc. Budgeted Income Statement For the Month Ending Mar. 31, 2020 Sales y $ 610,000 Cost of Goods Sold Beginning Inventory Purchases (Previous Prepare a budgeted Income statement. Round your answers to the nearest dollar. Italian Exports, Inc. Budgeted Income Statement For the Month Ending Mar. 31, 2020 Sales $ 610.000 Cost of Goods Sold Beginning Inventory Purchases Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Profit Operating Expenses Total Operating Expenses Check My Work All work saved. Email Instructor Save and Exit Sube