Partial Sales Budget information for Brianna's Boogie Boards follows:
Brianna prepared the following inventory purchases budget. Brianna maintains an ending inventory balance equal to 10 % of the following month's cost of goods sold. April's budgeted cost of goods sold is $39,000. Unfortunately, banana board wax spilled on the bottom of the budget and some numbers are unreadable.
If sales for the entire quarter are $125,000,
What Gross Margin will be reported on the Pro Forma Income Statement?