Use the following income statement along with the accompanying additional information to prepare a monthly operational budget for Tom's Business. Additional Information: Sales are anticipated to increase by 5% each month Cost of Goods Sold will remain at its current percentage of sales Rent is going up to $550 per month next year Wages should run at 6% of sales Utilities and auto maintenance will remain the same Advertising will increase by 10% in the same months as the current year According to your 2020 operational budget: a. What are your estimated sales for January 2020 ? b. What is your estimated cost of goods sold for February 2020? c. What is your estimate in wages for June 2020 ? d. What is your estimate in advertising expense for March 2020? e. What is your estimated net income for September 2020 ? \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & \multirow[b]{4}{*}{ln} & \multirow[b]{4}{*}{ Fen } & \multirow[b]{4}{*}{ Har } & \multirow[b]{4}{*}{ dor } & & & & & & & & \\ \hline & & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & & \\ \hline & & & & & k4y & in & 4 & & 5 & Chet & & Dre & toty \\ \hline & & 20 & 1365 & axts. & ace & & 2m & 2010 & & 2x & 2780 & 4sin & m \\ \hline & Thill & lak & 2,40 & tm & tenil & wht & 1/cm & 1,500 & that & tath & & timn & min \\ \hline Rers & IS5: & 5 & 65 & 25 & S: & 58 & & 55 & is: & Ne & 62 & & cos \\ \hline Wan & 18 & in & Bs & 15: & in & min & in & 15 & min & tr & & & \\ \hline tratanat & & 0 & 4 & 40 & 4 & 8 & 0 & 0 & 4 & 0 & 4 & 41 & \\ \hline vative & 25 & 20 & 3 & =V & an & 100 & & 210 & & into & 20 & an & sior \\ \hline Autai Murasarae & & 4 & ita & 4 & (t) & (6) & & 8 & (5) & 6 & a & 81 & 60 \\ \hline Ahortsing & & & a & & & & & & & & & (1) & 20 \\ \hline Cher Ertarian & in & m & tis & & tha & 6i & a & m & (1)! & m & to & 18 & 1118 \\ \hline Fouffornes & & 35 & & 2900. & & 2,7=1 & & 227 & & 2 & mai & 3x2 & 3+100 \\ \hline thatincomern & til: & 12 & 48 & ita & 50 & (xin & tot & & 1124 & & & & atik \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & & & & & Tom's & siness & & & & & & \\ \hline & & & & & Income & tement & & & & & & \\ \hline & & & & & & & & & & & & \\ \hline 2019 & Jn & Feb & Mar & Apr & May & in & & Aug & Sep & Odt & Nov & Dec \\ \hline Sales & 3250 & 2,700 & 3855 & 3,254 & 3650 & 2850 & 2600 & 2,010 & 2200 & 2250 & 3,755 & 4,890 \\ \hline Cost ol Goods Sold & 1,788 & 1,486 & 2,120 & 1,790 & 2008 & 1,568 & 1,430 & 1,106 & 1,210 & 1,238 & 2,065 & 2690 \\ \hline Rent & 525 & 525 & 585 & 525 & 525 & 525 & 525 & 525 & 525 & 525 & 525 & 525 \\ \hline Wages & 175 & 175 & 15 & 175 & 175 & 175 & 175 & 175 & 175 & 175 & 175 & 175 \\ \hline Insurance & 46 & 46 & 46 & 46 & 46 & 46 & 46 & 46 & 46 & 46 & 46 & 46 \\ \hline Utilities & 220 & 225 & 295 & 227 & 200 & 185 & 205 & 26 & 210 & 18 & 200 & 230 \\ \hline Auto Maintenance & 40 & 40 & 80 & 40 & 40 & 80 & 40 & 40 & 80 & 40 & 40 & 80 \\ \hline Actvertising & & & 60 & & & & & & 6 & & & 6 \\ \hline Other Expenses & 9 & 81 & 116 & 9 & 110 & & 78 & 6 & 6 & B & 113 & 147 \\ \hline Total Expenses & 2891 & 2577 & 3,407 & 2900 & 3,100 & 2,724 & 2,499 & 2217 & 2372 & 2276 & 3,184 & 3952 \\ \hline Net Income & 360 & 123 & 448 & 354 & 547 & 126 & 101 & (207) & (172) & (26) & 571 & 908 \\ \hline \end{tabular}