Question: Please provide the budget projections for Year 5 - here is the original question: Task #1: South Shore Medical Clinic is expanding its operations. As
Please provide the budget projections for Year 5 - here is the original question: Task #1: South Shore Medical Clinic is expanding its operations. As you will notice from Year 3 to Year 4, they have increased their revenue and encounted additional expenses. In addition, they have rented a new office at the end of the year so their rent expense is going to increase (they will now have two offices). In addition, they have added 2 additional staff members to payroll. Using the Income Statement below, prepare a budget that takes these changes into account for the upcoming year. Suggest the budget amounts for Year 5 in the column below. **this is the link to the image in case the inserted image doesn't show: http://i68.tinypic.com/lwe8z.jpg
Clipboard Font Alignment Styles Clipboard F Font Alignment Numbe A25 F16 Ca For the year ending December 31, 20X3 For the year ending December 31, 20X4 ACTUAL BUDGET 7Revenues: 7 Revenues: 9 Service Fee Revenue 10 1Total Revenues 12 13 14 Expenses: 15 $125,000 $160,000 9 Service Fee Revenue 10 Total Revenues $125,000 12 Expenses: 13 Advertising Expense 14 Shipping Expense 15% Salaries Expense 26 Rent Expense 17 Utilities Expense $ 20,000 $ 12,000 $ 80,000 $ 32,000 $ 5,200 S 78,500 $ 24,000 s 2,500 6 Salaries Expense 17: Rent Expense 18 Utilities Expense 119 20Total Expenses tal Expense 20 21 Income $105,000 Net Income $ 10,800 22 Income 23 Net Income 24 $ 20,000 Marg 26 27 28 e @/wa.WStep by Step Solution
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