Consider this situation. You are the Finance Director for a small local business. This morning, you reviewed this basic summary quarterly income statement. Your supervisor (the Company President) just stopped by for a visit to discuss this situation â€“ and he was obviously not happy. After a short discussion with him, he wanted you to produce the following:
- Your recommendation on a plan for reducing overall expenses by at least 15%, while at the same time increasing advertising expenditures by 500%.
- A simple budget (similar in structure to the summary quarterly income statement as shown below) that reflects your recommendation.