The following is Beta Hardware Corporation's income statement for the year ended January 31, 2011:

Beta Hardware Corporation Income Statement For the Year Ended January 31, 2011
Revenues		$780,000
Cost of Goods Sold		$480,000
Gross Profit		$300,000
Expenses:
Administrative Costs	$20,000
Selling Costs	$16,000
Salaries	$102,000
Rent	$21,000
Total Expenses		$159,000
Net Income		$141,000

Salaries are comprised of $66,000 in manager's salaries and $36,000 in office employees' salaries Beta Hardware is a small business and it does not intend to spend a lot of time and money on budgeting. The manager has determined the 2012 budgeted income statement should simply reflect the following predicted changes from the 2011 income statement:

• Revenues will increase by 2.5%
• Gross profit will increase by 5%
• Selling costs will decrease by 3%
• Managers' salaries will increase by 9%
• Administrative costs, office employees' salaries, and rent expense will remain the same

Do not enter dollar signs or commas in the input boxes. Prepare the budgeted income statement for the year ending January 31, 2012 using the incremental budgeting approach.

Beta Hardware Corporation Budgeted Income Statement For the Year Ended January 31, 2012
Budgeted Revenues		$Answer
Budgeted Cost of Goods Sold		$Answer
Budgeted Gross Profit		$Answer
Budgeted Expenses:
Administrative Costs	$Answer
Selling Costs	$Answer
Salaries	$Answer
Rent	$Answer
Total Budgeted Expenses		$Answer
Budgeted Net Income		$Answer