Question: Use the income statement and additional information provided below and the appropriate software to prepare the annual budgeting income statement for the next three year.
Use the income statement and additional information provided below and the appropriate software to prepare the annual budgeting income statement for the next three year. You need to save and upload your budget to Moodle with the final submission for this assessment.
Additional information
?? Annual sales are expected to increase by 10% each year
?? Expected average gross profit margin is 30%
?? Advertising costs are expected to increase by $800 each year
?? Depreciation charges are the same each year
?? Interest paid is the same each year
?? Annual rent is expected to increase by 6% each year
?? Superannuation is 9 % of wages and is expected to increase 0.25% each year
?? Wages are expected to increase by 5% each year
?? All other operating expenses are expected to increase by 4% each year
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