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The Budget amounts should be for the calculated as follows: January actual amounts multiplied by 12, with a 18% increase for Revenues, 9% for expenses. The monthly budget then becomes 1/12 of the new amounts. This workbook should contain the Income Statement showing Actual $ amounts and Budgeted $, as described above for the year and the month, (month compared to actual). explain your views on the budget and in what ways it may be improved, if any