Exercise 14-2 Preparing a sales budget LO 14-2 Fanning Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Fanning has budgeted sales as indicated in the following table. The company expects a 10 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Fanning will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required Required B Complete the sales budget by filling in the missing amounts. (Round intermediate calculations and final answers to 2 decimal places.) Sales January February March $ Cash sales 41,000 Sales on account 119,000 Total budgeted $ sales 160,000 Fanning Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Fanning has budgeted sales as indicated in the following table. The company expects a 10 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Fanning will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required Required A B Determine the amount of sales revenue Fanning will report on its first quarter pro forma income statement. (Round intermediate calculations and final answer to 2 decimal places.) Sales revenue