G HE A B. D Refer to the previous problem 2 for Galaxy Lighting. In addition to the information given in Problem 2, selling E and administrative expenses paid in cash are $160,000 per month. Depreciation on the office building is $7100 27 per month and the September 1 cash balance is expected to be $55,000. 28 29 Required: 1. Prepare a Budgeted Income Statement for September, October, and November (Hint: Calculate cost of goods 30 sold using sales in units from sales budget x purchase cost per unit). 31 2. Prepare a monthly Cash Budget for September, October, and November. 32 3. What is a non cash expense and how is it used in budgeting? 33 34 35 26 LD CON UN Galaxy Lighting Company Budgeted Income Statement Sept Oct Nov Quarter Total 0 3 4 5 6 Galaxy Lighting Company Cash Budget Sept Oct Nov 2