Fortin Limited produces and sells a single product, a warable LED light for runners and cyclists. The analytics group at Fortin Limited has developed the following estimates for unit sales in the upcoming Farter 24.500 Second Quarter 22.000 Budeted unit sales Thin Quarter 20,400 Fourth Quarter 22.900 The light sells fe$50 per unit and all sales are on account 75% of sales are expected to be collected in the quarter of sale, with the remainder in the following quarter Accounts receivable at the beginning of the quarter were 5171.000 and will all be collected during the fint quarter of the year At the end of the previous quarter there were 2,800 units in finished goods inventory. The desired riding finished goods inventory at the end of each quarter is 10% of the next quarter's budgeted sales Management expects sales in the fourth quarter of the upcoming year to be the same as the first quarter of the following year. Required: 1. Prepare the company's sales budget 1-6. Prepare the schedule of expected cash collections 2. Prepare the company's production budget for the upcoming fiscal year. 1-a Fortin Limited Sales Litendo Out 4. O Huiyatai ura alar Selling Price per Tools 50 50 50 1- Schedule of Expected Cush Collecties O Account feceable begin balance Ist Quarter sales 2nd Quarter sales Bed Quarter sales Athles Total cu collections 0 0 30 50 50 2 Fortin Lied Producteur Ist OE O ed Oracter 4th Ouarter 0 0 Ludgeted and sales Al dinding Total is needed Les being inventary Required production 0 0 0 01