\f\fFile Home Insert I4) V m V I II\\ E! BAF3M v ,0 BAFSM (202272023) ' EAFSM (202072021) EAFSM (201972020) ' EAFSM (MO HRS.) Draw View Day 5152 Day 53-54 Day 5556 CANCELLED Day 57758 CANCELLED Day 59-60 CANCELLED Day 6163 Day 6465 Day 66-67 Day 68769 Day 7071 Day 72773 Day 74775 Help Q Tell me what you want to do Loan payments 5 90 000 Equipment purchases $ 50 000 (b) Comment on the company's cash position. Q2 Below is a budgeted income statement for New Star Software. a company that develops custom software for small businesses. (a) Complete the 5 Over and the \" Budget columns, (1)) Comment an the results for the scal period. New Star Software Income Statement Budget V's. Actual For the three months ended June 30, 20-- Aetunl Budget 5 Over % Budget Sales $460 000 $400 000 $7 7 "/o Cost of Goods Sold 82 000 80 000 _'.' ? \"/o Gross Prot 378 000 320 000 '3 7 % Product Development Expenses [20 000 100 000 '? '? "/5 Marketing Expenses 75 000 80 000 5' 7 % en nnn en Ann a a n, File Home Insert '4) v m v I II\\ E! BAFSM v ,0 EAFSM (20222023) I BAFBM (202072021) EAFSM (201972020) ' EAFSM (MO HRS.) Draw View Day 51752 Day 53-54 Day 5556 CANCELLED Day 57758 CANCELLED Day 59-60 CANCELLED Day 6163 Day 6465 Day 66-67 Day 68769 Day 7071 Day 7273 Day 74-75 Help Q Tell me what you want to do ' software for small businesses. 3 ( (a) Complete the $ Over and the \" Budget columns, 3 Below is a budgeted income statement for New Star Soware. a company that develops custom 3) Comment on the results for the scal period. New Star Software Income Statement Budget vs. Actual For the three months ended June 30, 20-- Aetual Budget Sales $460 000 $400 000 Cost of Goods Sold 82 000 80 000 Gross Prot 378 000 320 000 Product Development Expenses [20 000 100 000 Marketing Expenses 75 000 80 000 Administrative Expenses 50 000 50 000 Total Operating Expenses , 245 000 , 230 000 Net Income before Income Taxes [33 000 90 000 Income Taxes (25%) 33 250 22 500 Net Income 3 99 25!) E til 50!) 5 Over $? (7 (3 -J l-Jl'J ~.: lf'gl-a ~o % Budget '? "/o 7 "/o ? % ?% '."'/o ?% ?% '.'% '.'% ?% .4\" \"swing v