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Lauras Planning reported the following Budgeted Income Statement for the months of July,August, September and October, $2023.$ Note that July $2023$ was the first month of thecompanys existence, and that the owner deposited $$5,000$ on July $1$ into the companys bankaccount to get things started.a$.$ Calculate gross profit and E$.$B$.$I.T and calculate Lauras Planning cash availability given the following information. JulyAugustSeptemberOctoberRevenue Conference$$47,900$$$48,400$$$49,880$$$51,200$Revenue Catering$$22,500$$$21,900$$$26,010$$$30,080$Cost of sales$$19,110$$$18,392$$$18,954$$$19,456$Gross Profit Cleaning Supplies Expense $$21,600$$$24,384$$$25,139$$$25,812$Depreciation expense$$300$$$300$$$300$$$300$Linen Rental Expense$$5,898$$$5,921$$$5,740$$$5,962$Paper Supplies Expense$$1,230$$$1,630$$$1,780$$$1,600$E$.$B$.$I.T Of the Conference Revenue, $40\%$ is received in the current month and theremainder is received in the following month. Of the Catering Revenue, $100\%$ is received in the current month Of the cost of sales, $80\%$ is paid in the current month and the remainder is paidin the following month Of the Cleaning Supplies Expense, $100\%$ is paid in the current month Linen, and paper expenses are paid the month they are incurred. Depreciation expense is $$300$ per month.Lauras Planning Cash AvailabilityJuly to October $2023$ Quarter JulyAugustSeptemberOctoberBeginning Cash Balance Cash Receipts: Conference sales revenue Collections from Accounts Receivable $($in Conference sales revenue$)$ Catering sales revenue TOTAL CASH AVAILABLE$$0$$$0$$$00$Cash Disbursements: Cost of sales cash purchases Payment of Accounts Payable Cleaning expense Linen expense Paper Supplies Expense Depreciation expense TOTAL CASH DISBURSEMENTS ENDING CASH BALANCE FOR THE PERIOD$$0$$$0$$$0$$$0$

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