Revenues Sales 2018 2019 2020 Expenses 1,292,400.54 1,305,324.55 1,318,377.79 Payroll 770,654.48 786,067.57 817,510.27 Office 75,325.22 71,558.96...

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Revenues Sales 2018 2019 2020 Expenses 1,292,400.54 1,305,324.55 1,318,377.79 Payroll 770,654.48 786,067.57 817,510.27 Office 75,325.22 71,558.96 67,981.01 Advertising 198,456.55 218,302.21 261,962.65 Insurance 22,458.67 22,458.67 22,458.67 Training & Research 178,954.98 170,007.23 153,006.51 Service Charges 11,789.33 11,199.86 11,759.86 Total Operating Expenses 1,257,639.23 1,279,594.50 1,334,678.96 Net Operating Loss 34,761.31 25,730.05 (16,301.17) Create a 2021 budget using the following assumptions. For accounts where assumptions are not specified, use trend analysis 1. Supervisor's salaries make up 11.00% of all payroll; they have agreed to a salary decrease of 7.00% while the rest of the employees will receive a 5.00% raise. 2. Service charges will remain constant. 3. Training and research are still critical components of the company and will actually increase by 7%. What will be the budgeted net income or net loss after all assumptions and trends have been recorded? (indicate if the figure is a net income or a net loss) Revenues Sales 2018 2019 2020 Expenses 1,292,400.54 1,305,324.55 1,318,377.79 Payroll 770,654.48 786,067.57 817,510.27 Office 75,325.22 71,558.96 67,981.01 Advertising 198,456.55 218,302.21 261,962.65 Insurance 22,458.67 22,458.67 22,458.67 Training & Research 178,954.98 170,007.23 153,006.51 Service Charges 11,789.33 11,199.86 11,759.86 Total Operating Expenses 1,257,639.23 1,279,594.50 1,334,678.96 Net Operating Loss 34,761.31 25,730.05 (16,301.17) Create a 2021 budget using the following assumptions. For accounts where assumptions are not specified, use trend analysis 1. Supervisor's salaries make up 11.00% of all payroll; they have agreed to a salary decrease of 7.00% while the rest of the employees will receive a 5.00% raise. 2. Service charges will remain constant. 3. Training and research are still critical components of the company and will actually increase by 7%. What will be the budgeted net income or net loss after all assumptions and trends have been recorded? (indicate if the figure is a net income or a net loss)