Plz help me with the red boxes!

Plz help me with the red boxes!

Plz help me with the red boxes!

The budget committee of Crane 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 $\backslash (\backslash$$ $832,000\backslash ).$ Sales in June and July are expected to be $\backslash (5\backslash \%\backslash )$ higher than the preceding month.

$2.$ Cost of goods sold is expected to be $\backslash (75\backslash \%\backslash )$ of sales.

$3.$ Company policy is to maintain ending merchandise inventory at $\backslash (10\backslash \%\backslash )$ of the following month's cost of goods sold.

$4.$ Operating expenses are estimated to be as follows:

$5.$ Interest expense is $\backslash (\backslash$$ $2,000\backslash )$ per month. Income taxes are estimated to be $\backslash (20\backslash \%\backslash )$ of income before income taxes. Prepare the merchandise purchases budget for each month in columnar form.

CRANE COMPANY

San Miguel Store Merchandise Purchases Budget

For the Months of May and June, $2022$ Income Before Income Taxes

Sales Commissions

Cost of Goods Sold

Net Income $/($Loss$)$

Rent

Purchases

Gross Profit

Total Operating Expenses

Beginning Inventory

Income from Operations

Sales Salaries

Interest Expense

Ending Inventory

Sales

Cost of Goods Available for Sale

Operating Expenses

Insurance

Delivery

Advertising

Income Tax Expense

Utilities

Depreciation Prepare budgeted multiple$-$step income statements for each month in columnar form. Show in the statements the details of cost of goods sold.

CRANE COMPANY

San Miguel Store

Budgeted Income Statement

For the Months of May and June, $2022]$