I will upvote the correct answer thank you

2 part answer:

1) prepare the merchandise purchases budget for each month in columnar form

2) prepare budgeted multistep income statements for each month in columnar form. show in the statements the details of cost of goods sold (23 lines/white boxes available on left side)

The budget committee of Concord Company collects the following data for its San Miguel Store in preparing budgeted income statements for May and June 2022 1. Sales for May are expected to be $1,120,000. Sales in June and July are expected to be 5% higher than the preceding month, 2. Cost of goods sold is expected to be 75% of sales. 3. Compary policy is to maintain ending merchandise inventory at 10% of the foliowing month's cost of goods sold. 4. Operating expenses are estimated to be as follows: 5. Interkst apense is $2.000 per month. Income taxes are estimated to be 20% of income before income taves. Prepare the merchandise purchases budget for each month in columnar form. Prepare the merchandise purchases budget for each month in columnar form. Prepare buan gcoed wulfiplestepincome statements for each month in columnar form. Show in the staternents the details of cost CONCORD COMPANY San Miguel Store Budgeted Income Statement CONCORD COMPANY San Miguel Store Budgeted Income Statement