We have the income statement for Cindy Weather Company for the year as given below:

Cindy Weather Company

Income Statement for the Year $2022$

Sales

$$450,000$

Less: Expenses

Sales Commission

$$45,000$

Sales Salaries

$$50,000$

Administrative salaries

$$75,000$

Supplier Expense

$$5,000$

Rent Expenses

$$120,000$

Miscellaneous Expenses

$$15,000$

Total Expense

$$310,000$

Income from Operations

$$140,000$

Less: Income Tax $(30\%)$

$($$$42,000)$

Net Income

$$98,000$

They want to make the following changes this year to last year$$s results:

$1.$ Sales will increase by $5\%$

$2.$ Sales commissions will remain stagnant at $10\%$ of sales

$3.$ Sales and administrative salaries will increase by $3\%$

$4.$ Supplies, rent and miscellaneous expenses will remain unchanged.

$5.$ Income taxes will be at $30\%$ of the net income.

On the basis of the information, prepare a budgeted income statement for this service concern.