The following is Beta Hotel's income statement for the year ended June 30, 2020.

Beta Hotel Income Statement For the Year Ended June 30, 2020
Revenues		$790,000
Expenses:
Administrative Costs	$28,000
Marketing	$19,000
Variable Wages	$312,000
Management Salaries	$90,000
Rent	$187,000
Utilities	$29,000
Total Expenses		$665,000
Net Income		$125,000

Beta Hotel is a limited-service hotel with 18 rooms and no food and beverage operations. Management does not intend to spend a lot of time and money on budgeting. The manager has determined the 2021 budgeted income statement should simply reflect the following predicted changes from the 2020 income statement:

• Revenues will increase by 1.5%
• Marketing costs will decrease by 8%
• Management salaries will increase by 2%
• Variable wages will remain consistent as a percentage of revenue
• Utilities will increase by 5%
• Administrative costs and rent will remain the same

Do not enter dollar signs or commas in the input boxes. Prepare the budgeted income statement for the year ending June 30, 2021 using the incremental budgeting approach.

Beta Hotel Budgeted Income Statement For the Year Ended June 30, 2021
Revenue		$Answer
Expenses
Administrative Costs	$Answer
Marketing	$Answer
Variable Wages	$Answer
Management Salaries	$Answer
Rent	$Answer
Utilities	$Answer
Total Expenses		$Answer
Net Income		$Answer