Smith Corner Shoppe is a local convenience store with the following information: EEB (Click the icon to view the information.) Read the requirements Requirement 1. Prepare the sales budget for November and December Smith Corner Shoppe Sales Budget For the Months of November and December November December 324800 389760 Cash sales Credit sales Total sales 1Data Table October sales were $290,000 Sales are projected to go up by 12% in November (from the October sales) and another 20% in December (from the November sales) and then return to the October level in January 25% of sales are made in cash, while the remaining 75% are paid by credit or debit cards. The credit card companies and banks (debit card issuers) charge a 5% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily Smith Cor .For the next several months, the store wants to maintain an ending merchandise rner Shoppe's gross profit is 40% of it s sales revenue inventory equal to $10,000 + 25% of the next month's cost of goods sold. The September 30 inventory was $53,500 Expected monthly operating expenses include Wages of store workers are $8,700 per month Utilities expense of $1,800 in November and $2,100 in December Property tax expense of $1,900 per month Property and liability insurance expense of $200 per month .Depreciation expense of $8,500 per month . Transaction fees, as stated above, are 5% of credit and debit card sales Print Done i Requirements Prepare the following budgets for November and December: 1. Sales budget 2. Cost of goods sold, inventory, and purchases budget 3. Operating expense budget 4. Budgeted income statement Print Done