Wonderland Preschool operates a not-for-profit morning preschool that operates nine months of the year. The preschool has 175 kids enrolled in its various programs. The preschool's primary expense is payroll. Teachers are paid a flat salary each of the nine months as follows: (Click the icon to view salary data.) (Click the icon to view additional information.) Requirements 1. Prepare Wonderland Preschool's monthly operating budget. Round all amounts to the nearest dollar. 2. Using your answer from Requirement 1 , create Wonderland Preschool's budgeted income statement for the entire nine-month school year. You may group all operating expenses together. 3. Wonderland Preschool is a not-for-profit preschool. What might the preschool do with its projected income for the year? Salary data Teachers of two-day program: Teachers of three-day program: Teachers of four-day program: Teachers of five-day program: Preschool director's salary: $436 per month $648 per month $884 per month $1,055 per month $1,300 per month dg Wonderland Preschool has 9 two-day program teachers, 6 three-day program teachers, 5 four-day program teachers, and 4 five-day program teachers. The preschool also has a director. More info In addition to the salary expense, the preschool must pay federal payroll taxes (FICA taxes) in the amount of 7.65% of salary expense. The preschool leases its facilities from a local church, paying $4,070 every month it operates. Fixed operating expenses (telephone, internet access, bookkeeping services, and so forth) amount to $870 per month over the nine-month school year. Variable monthly expenses (over the nine-month school year) for art supplies and other miscellaneous supplies are $9 per child. Revenue for the entire nine-month school year from tuition, registration fees, and the lunch program is projected to be $236,800