Fortin Limited produces and sells a single product, a wearable LED light for runners and cyclists. The analytics group at Fortin Limited has developed the following estimates for unit sales in the upcoming year. Budgeted unit sales First Second Third Fourth Quarter Quarter Quarter Quarter 24,600 21,300 20,600 22,200 The light sells for $60 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 $170,000 and will all be collected during the first quarter of the year. At the end of the previous quarter there were 2,600 units in finished goods inventory. The desired ending 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-a. Prepare the company's sales budget. First Second Third Quarter Quarter Quarter Fourth Quarter Year Budgeted unit sales 24,600 21,300 20,600 Selling price per unit 60 60 60 22,200 60 88,700 60: Total Sales $ 1,476,000 $ 1,278,000 $ 1,236,000 $ 1,332,000 $ 5,322,000