The data shown were obtained from the financial records of Italian Exports, Inc., for March: Estimated Sales $560,000 Sales 567,932 Purchases 294,820 Ending Inventory* 10% Administrative Salaries 50,360 Marketing Expense** 5% Sales Commissions 2% Rent Expense 7,400 1,100 Depreciation Expense Utilities Taxes*** 2,600 15% *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.