Prepare the selling and administrative expenses budget for the company Cards by

Prepare the selling and administrative expenses

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administrative expenses budget for the company. Cards by ShannonSelling and Administrative Expenses Budget For the Year EndedDecember 31, 2016Sales salaries expense$2,000Advertising expense700Total selling expenses$2,700Administrative expenses:Office depreciation expense$ 900Office supplies expense250Total administrative expenses1,150Total selling and administrative expenses$3,850
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11ACCT 500017. Prepare a budgeted income statement for Cards by Shannon using the information determined in Exercises 10–16 for the 2019 calendar year-end. Assume the company expects to earn rental revenue of $4,000 for the year and a 30% tax rate. Round dollars to the nearest centCards by ShannonBudgeted Income StatementFor the Year Ending December 31, 2016Revenue from sales$93,840.00Cost of goods sold62,548.90Gross profit$31,291.10Selling and administrative expenses:Selling expenses$2,700.00Administrative expenses1,150.00Total selling and administrative expenses3,850.00Income from operations$27,441.10Other income:Rental revenue4,000.00Income before income tax$31,441.10Income tax9,432.33Net income$22,008.77
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