Power-Ride Inc. is a privately owned business in Westem Canada that has found success with the production of two-wheeled, self-balancing personal transportation vehicles called Ride-Outs_ The popularity ot Wo-wheeled personal transportation vehicles is continuing to grow in both the private consumer and commercial markets. Two-wrheeled personal transportation vehicles give people the option to use battery power as an altemative to cycling or walking. Power-Ride was founded eight years ago by two siblings, Ryan and Nick, who love the outdoors. Ryan suffers trom severe asthma and had to significantly reduce his outdoor activities until he discovered two-wheeled personal transportation vehicles during a European vacation. He is very passionate about the business. Given that the business is mostly seasonal, growth is heavily dependent on the weather; however, the company is seeing an overall steady growth pattem It is now October 2019, and it is time to stan preparing the 2020 budget tor presentation to the board You, CPA, are the controller tor Power-Ride and have been asked by the owners to help prepare the documents required for the budget Task #1 Ride-Out sales are highest in the spring and summer months, when private consumer purchases peak. The most profitable months are always March to May, when outdoor adventure stores are preparing tor the summer seasom This past summer was a difficult one. Due to poor weather across the region, annual sales last year dipped 4% over the prior three-year average. Fortunately, there is no indication that the bad weather will repeat this year.