Galaxy is an exotic car dealership. Sales in the fourth quarter of last year were $$3,700,000.$ Suppose its Trois $-$ Rivieres office projects that its current year's quarterly sales will increase by $3\%$ in quarter $1,$ by another $5\%$ in quarter $2,$ by another $6\%$ in quarter $3,$ and by another $2\%$ in quarter $4.$ Management expects cost of goods sold to be $40\%$ of revenues every quarter, while operating expenses should be $20\%$ of revenues during each of the first two quarters, $25\%$ of revenues during the third quarter, and $35\%$ during the fourth quarter.

Requirement

Prepare a budgeted income statement for each of the four quarters and for the entire year.

Complete the following budgeted income statement. $($Round interim and final calculations to the nearest whole dollar.$)$