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 13 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

1. Complete the sales budget by filling in the missing amounts.

2. Determine the amount of sales revenue Fanning will report on its first quarter pro forma income statement

   Sales	January	February	March
   Cash sales	$45,000
   Sales on account	110,000
   Total budgeted sales	$155,000