In May 2022, the budget committee of Blue Spruce, Inc. assembles the following data in...
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In May the budget committee of Blue Spruce, Inc. assembles the following data in preparation of budgeted merchandise purchases for the month of June. Expected sales: June $ July $ Cost of goods sold is expected to be of sales. Desired ending merchandise inventory is of the following month's cost of goods sold. The beginning inventory at June will be the desired amount. b Prepare the budgeted income statement for June through gross profit. BLUE SPRUCE, INC. Budgeted Income Statement 
In May the budget committee of Blue Spruce, Inc. assembles the following data in preparation of budgeted merchandise
purchases for the month of June.
Expected sales: June $ July $
Cost of goods sold is expected to be of sales.
Desired ending merchandise inventory is of the following month's cost of goods sold.
The beginning inventory at June will be the desired amount.
b
Prepare the budgeted income statement for June through gross profit.
BLUE SPRUCE, INC.
Budgeted Income Statement
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