Using the following data, please calculate the projected balance sheet for the period ending June 30th.

2 Projected Statements 4 Projected Income Statement 5 April May June Total Check Figures Sales $315,000 $405,000 $540,000 $1,260,000 7 Less variable expenses 8 Cost of Goods sold 175,000 r 225,000 300,000 700,000 9 Sales commissions 17,500 r 22,500 30,000 70,000 Shipping & handling 18,000 24,000 56,000 14,000 206500 265,500 3SA000 826000 11 Total variable expenses 12 Contribution margin $434,000 13 Less fixed expenses 14 Wages and salaries $34,800 r $34,800 $34,800 $104,400 15 Rent 7,000 r 7,000 7,000 21,000 16 Utilities 2,400 r 2,400 17 Insurance expired 1.000 r 1,000 1,000 7,200 3,000 18 Depreciation 2,500 r 2,500 2,500 7,500 19 Other S&A 3,700 3700 3700 11,100 20 Advertising Campaign 21 Total fixed expenses S51.400 $51,400 $51,400 23 Net operating Income $134,600 $279,800 24 Less: Interest Expense 26 Net Income $87,356 2 Projected Statements 4 Projected Income Statement 5 April May June Total Check Figures Sales $315,000 $405,000 $540,000 $1,260,000 7 Less variable expenses 8 Cost of Goods sold 175,000 r 225,000 300,000 700,000 9 Sales commissions 17,500 r 22,500 30,000 70,000 Shipping & handling 18,000 24,000 56,000 14,000 206500 265,500 3SA000 826000 11 Total variable expenses 12 Contribution margin $434,000 13 Less fixed expenses 14 Wages and salaries $34,800 r $34,800 $34,800 $104,400 15 Rent 7,000 r 7,000 7,000 21,000 16 Utilities 2,400 r 2,400 17 Insurance expired 1.000 r 1,000 1,000 7,200 3,000 18 Depreciation 2,500 r 2,500 2,500 7,500 19 Other S&A 3,700 3700 3700 11,100 20 Advertising Campaign 21 Total fixed expenses S51.400 $51,400 $51,400 23 Net operating Income $134,600 $279,800 24 Less: Interest Expense 26 Net Income $87,356