1 Franklin Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Franklin expects sales in January 2019 to total $310,000 and to increase 10 percent per month in February and March. All sales are on account. Franklin expects to collect 66 percent of accounts receivable in the month of sale, 24 percent in the month following the sale, and 10 percent in the second month following the sale. Required ts a. Prepare a sales budget for the first quarter of 2019. b. Determine the amount of sales revenue Franklin will report on the first 2019 quarterly pro forma income statement. c. Prepare a cash receipts schedule for the first quarter of 2019. d. Determine the amount of accounts receivable as of March 31, 2019. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare a sales budget for the first quarter of 2019. Sales Budget January February March Sales on account Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Determine the amount of sales revenue Franklin will report on the first 2019 quarterly pro forma income statement. Sales revenue Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare a cash receipts schedule for the first quarter of 2019. (Do not round intermediate calculations. Round final answers to whole dollars.) January February March Schedule of Cash Receipts Receipts from January sales Receipts from February sales Receipts from March sales Total Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Determine the amount of accounts receivable as of March 31, 2019. (Do not round intermediate calculations. Round final answers to whole dollars.) Accounts receivable