urgent!!

In May 2020, the budget committee of Big Jim Stores assembles the following data for preparing the merchandise purchases budget for the month of June: 1. 2 Expected sales: June $543,000; July $588,000. Cost of yoods sold is expected to be 75% of sales. Desired ending merchandise inventory is 30% of the following month's cost of goods sold. The beginning inventory at June 1 will be the desired amount. 3. 4. Calculate the budgeted merchandise purchases for June. $ 417375 Budgeted merchandise purchases Prepare the budgeted income statement for June through gross profit on sales. BIG JIM STORES Budgeted Income Statement For the Month Ending June 30, 2020 543,000 Sales Cost of Goods Sold Inventory, June 1 Add Purchases Cost of Goods Available for Sale Less : Inventory, June 30 Cost of Goods Sold $ S Gross Profit Gros Profit Selling and Administrative Expenses Income Tax Expense Inventory, June 30 Cost of Goods Sold Net Income / (Loss)> Purchases Sales Que Inventory, June 1 Gross Profit Income Before Income Taxes Cost of Goods Available for Sale Save Tor Later