Christmas Thoughts Company (CTC) is a company that manufactures and sells Christmas decorations and related products. Due to its seasonal business, sales are extremely strong during the months of November and December. During these two months, 60% of all annual sales are made. The remaining 40% of sales are distribu evenly over the other ten months (therefore, 4% for each of the ten months). CTC has very stable sales every year. The balance sheet for CTC for the past year is presented below. REVENUES: Net sales $40.000.000 $20.500.000 EXPENSES Cost of Goods Sold Salaries of key employees Salaries of other employees 5940,000 52,200,000 $350.000 $2.600.000 Other Expenses Total Expenses INCOME BEFORE TAXES 5.26. 513410.000 LESS TAXES 0 54 559 400 NET INCOME SH0.00 What is the maximum probable business income tows for CTC for business income insurance coveuge purposes if (1) the maximum probable length of a shutdown for CTC three months, and (2) the continuing expenses CTC will incur during shutdown period includes only the salaries for key employees and utilities? Assume all expenses are evenly distributed across the 12 months, except for the cost of goods sold, which is directly proportional to sales. Show your calculation and put your final answer in the box to the right. Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich-Text Editor and character count)