19 Fortin Limited produces and sells a single product, a wearable LED light for runners and cyclists. The analytics group at Fortin Limited has developed the following estimates for unit sales in the upcoming year. Budgeted unit sales First Quarter 25,400 Second Third Quarter Quarter 22,000 20,100 Fourth Quarter 22,000 The light sells for $40 per unit and all sales are on account. 75% of sales are expected to be collected in the quarter of sale, with the remainder in the following quarter. Accounts receivable at the beginning of the quarter were $179,000 and will all be collected during the first quarter of the year. At the end of the previous quarter there were 2,800 units in finished goods inventory. The desired ending finished goods inventory at the end of each quarter is 10% of the next quarter's budgeted sales. Management expects sales in the fourth quarter of the upcoming year to be the same as the first quarter of the following year. Required: 1-a. Prepare the company's sales budget. Budgeted unit sales Selling price per unit Total Sales First Quarter Second Quarter Third Quarter Fourth Quarter Year 1-b. Prepare the schedule of expected cash collections.