Gammaro Motors is a chain of car dealerships. Sales in the fourth quarter of last year were $4,300,000. Suppose managernent projects that its current year's quarterty sales will increase by 3% in quarter 1, by another 7% in quatter 2 , by another 6% in quarter 3 , and by another 4% in quater 4.1. Management expects cost of goods sold to be 50% of revenues every quarter, while operating expenses should be 35% of revenues during each of the first two quarters, 25% of reventes during the third quarfor, and 30% duting the fourth quarter. Reguirement Prepare a budgeted income statement for each of the four quarters and for the entire year Prepare the fint portion of the bodgeted income statement through gross profit, then complete the staternent. (RRound the amounts to the nearest whole dotar)