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X E9-27A (similar to) Samson Motors is a chain of car dealerships. Sales in the fourth quarter of la! sold to be 55% of revenues every quarter, while operating expenses should b Requirement Prepare a budgeted income statement for each of the four quarters and for th Prepare the first portion of the budgeted income statement through gross prof Samson Motors Budgeted Income Statement For the upcoming Year Quarter 1 Quarter 2 Quarter 3 Sales Less: Cost of goods sold Gross profit 5 of 6 (6 o uarter of last year were $4,100,000. Suppose management projects that its current year's quarterly es should be 35% of revenues during each of the first two quarters, 25% of revenues during the thi s and for the entire year th gross profit, then complete the statement. (Round the amounts to the nearest whole dollar.) ment uarter 3 Quarter 4 Year of 6 (6 complete) quarterly sales will increase by 6% in quarter 1, by another 2% in quarter 2. by another 5% in quarter 3. ng the third quarter, and 20% during the fourth quarter. Question Help in quarter 3, and by another 3% in quarter 4. Management expects cost of goods Finally complete the budgeted income statement. Begin by calculating the total operating expenses for the year and net income for each quarter and for the year. St. Germaine Labs Budgeted Income Statement For the upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Sales Less: Cost of goods sold Gross profit Less: Operating expenses Net income 1.44. VV V GGU Enter any number in the edit fields and then click Check Answer. All parts showing Clear All Check Ans