Question: PLEASE HELP! please help with part 2income statement. last picture shows all options that the left hand side has available. Thank you. Citrus Girl Company



Citrus Girl Company (CGC) purchases quality citrus produce from local growers and sells the produce via the Internet across the United States. To keep costs down, CGC maintains a warehouse but no showroom or retail sales outlets. CGC has the following information for the second quarter of the year: 1. Expected monthly sales for April, May, June, and July are $140,000,$110,000,$230,000, and $50,000, respectively. 2. Cost of goods sold is 15 percent of expected sales. 3. CGC's desired ending inventory is 25 percent of the following month's cost of goods sold. 4. Monthly operating expenses are estimated to be: - Salaries:\$37,000. - Dellvery expense: 7 percent of monthly sales. - Rent expense on the warehouse: \$2,500. - Utilities: \$500. - Insurance: \$150. - Other expenses: $250. Required: 1. Compute the budgeted cost of purchases for each month in the second quarter: 2. Complete the budgeted income statement for each month in the second quarter. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Complete the budgeted income statement for each month in the second quarter: Complete the budgeted income statement for each month in the second quarter. Complete this question by entering your answers in the tabs below. Complete the budgeted income statement for each month in the second quarter
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