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ngt inc asel 1 Data Table ents the March Total 7,200 $ Shaner Company Budgeted Income Statement For the Quarter Ended March 31, 2016 January February Sales Revenue (20% increase per month) $ 5,000 $ 6,000 $ Cost of Goods Sold (10% of sales) 500 600 Gross Profit 4,500 5,400 S and A Expenses ($2,500 + 10% of sales) 3,000 3,100 Operating Income 1,500 2.300 Income Tax Expense (30% of operating income) 450 690 Net Income $ 1,050 $ 1,610 $ 18,200 1,820 FO 720 6,480 16,380 9,320 3,220 Id 3,260 7,060 2,118 978 2,282 $ 4,942 e nse Print Done -r in the edit fields and then click Check Answer. Clear All Check An arse (ACCT 1090 V0852) is based on Custom MyAccounting for ACCTG 1090 for comb nmunity College budgeted income statement for the first quarter of 2016: income statement.) on 1 is to increase advertising by $800 per month. Option 2 is to use better-quality ma goods sold to 15% but will provide a better product at the same sales price. The mar nth rather than 20% 0 Requirements 1. Prepare budgeted income statements for both options assuming January sales remain $5,000. 2. Which option should Shaner choose? Explain your reasoning. Print Done Ids and then click Check Answer. Clear All V0852) is based on Custom My AccountingLab for ACCTG 1090 for Macomb Community College P Pearson TIMEWUIR. WEER SIX ! Chapter 7: Problems Save ng Score: 0 of 1 pt 4 of 4 (2 complete) HW Score: 28.82%, 1.15 of 4 P22A-43A (similar to) Question Help Shaner Company prepared the following budgeted income statement for the first quarter of 2016: (Click the icon to view the budgeted income statement.) Shaner is considering two options. Option 1 is to increase advertising by $800 per month. Option 2 is to use better-quality materials in the manufacturing process. The better materials will increase the cost of goods sold to 15% but will provide a better product at the same sales price. The marketing manager projects either option will result in sales increases of 25% per month rather than 20% Read the requirements Requirement 1. Prepare budgeted income statements for both options assuming January sales remain $5,000 Begin by preparing the budgeted income statement for Option 1. (Round all amounts to the nearest whole number.) Shaner Company Budgeted Income Statement For the Quarter Ended March 31, 2016 January Sales Revenue Cost of Goods Sold Gross Profit S and A Expenses Operating Income Income Tax Expense Net Inom Enter any number in the edit fields and then click Check Answer 8 parts remaining Clear All Check