Script Mill has just completed their 5th year in business. They have reported the following information for December 2022. Budgeted Sales 560,000 Actual Sales 567,923 Purchases 294,823 Beginning Inventory 56,000 Ending Inventory (% of next months sales) 10% Admin Salaries 50,320 Marketing Expense (% of budgeted sales) 5% Sales Commissions (% of budgeted sales) 2% Rent Expense 7,500 Depreciation Expense 1,100 Utilities 2,500 Taxes (% of income from operations) 15%Script Mill has seen sales increase at a rate of 10% in the past. They anticipate this trend to continue. Prepare a budgeted income statement complete the items below. *Type your response with no commas or decimals Sales D Cost of Goods Sold: Beginning Inventory D Purchases D Cost of Goods Available for Sale D Ending Inventory D Cost of Goods Sold Operating Expenses: Administrative Salaries D Marketing Expenses D Sales Commissions D Rent Expense Depreciation Expense Utilities Total Operating Expenses Income from Operations Income Tax Expense Net Income (loss)