The data shown were obtained from the financial records of Italian Exports, Inc., for March: Estimated Sales $600,000 567,929 294,815 10% Sales Purchases Ending Inventory* Administrative Salaries Marketing Expense** Sales Commissions 50,280 5% 2% 7,600 Rent Expense Depreciation Expense 1,100 Utilities 2,600 Taxes** 15% *of next month's sales **of estimated sales **of income before taxes * * Sales are expected to increase each m ath by 10%. Prepare a budgeted income statement. Round your answers to the nearest dollar. Italian Exports, Inc. Budgeted Income Statement For the Month Ending Mar. 31, 2020 Cost of Goods Sold Operating Expenses Total Operating Expenses