A cоmpаny is develоping its budget fоr the upcoming yeаr. The current yeаr's budget is as follows: Sales (100,000 units) $250,000 Less: Cost of goods sold 150,000 Gross profit $100,000 Operating expenses (includes $10,000 of depreciation) 60,000 Net income $40,000 In the upcoming year, selling prices are expected to increase by 10 percent and sales volume in units will decrease by 5 percent. The cost of goods sold as a percent of sales is expected to increase to 62 percent. Other than amortization, all operating costs are variable.Required: Calculate the following budgeted amounts for the upcoming year: 1. Sales 2. Cost of Goods Sold 3. Operating Expenses 4. Net IncomeEnter your answers only in whole numbers (no decimals) and do not use dollar signs. Do not include calculations.
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