Which of the following statements about a budgeted income statement is true? It is prepared after the operating budgets are prepared. It is prepared after the cash budget is prepared. It reflects the cash to be received and paid as a result of operations. o o It is prepared before the operating budgets are prepared. The Kohls Corporation decided to reduce the size of some stores in 2016. In lecture we concluded that this decision resulted in higher contribution margin. higher sales revenue. higher Return on Investment. higher fixed costs. In lecture, we concluded that an example of a capital budgeting project is purchasing bonds. purchasing stock in another company. purchasing inventory. o purchasing manufacturing equipment