How do I solve for C1 and C2?

Jasper Fruits Corporation wholesales peaches and oranges Barbara Jasper is working with the company's accountant to prepare next year's budget. Ms. Jasper estimates that sales will increase 6 percent for peaches and 11 percent for oranges. The current year's sales revenue data follow Peaches Oranges Total First Quarter $229,800 488, oee $637,000 Second Quarter $249,000 458,000 $77,000 Third Quarter $329,000 578,800 $887,000 Fourth Quarter $249,000 388,eee $637,000 Total $1,836,000 1,832,000 $2,868,000 Based on the company's past experience, cost of goods sold is usually 65 percent of sales revenue Company policy is to keep 10 percent of the next period's estimated cost of goods sold as the current period's ending inventory. (Hint Use the cost of goods sold for the first quarter to determine the beginning inventory for the first quarter) Required a. Prepare the company's sales budget for the next year for each quarter by individual product b. If the selling and administrative expenses are estimated to be $640,000, prepare the company's budgeted annual income statement c. Ms Jasper estimates next year's ending inventory will be $34 200 for peaches and $57,400 for oranges. Prepare the company's inventory purchases budgets for the next year, showing quarterly figures by product Required A Required B Required C1 Required C2 Prepare the company's sales budget for the next year for each quarter by individual product. First Quarter Total Peaches $ $ $ Second Quarter 263,940 508,380 772,320 242,740 452,880 695,620 Third Quarter 327,540 641,580 969,120 Fourth Quarter 263,940 430,680 694,620 Oranges Total $ 1,098,160 $ 2,033,520 $ 3,131,680 $ S S Required A Required B Required ci Required C2 If the selling and administrative expenses are estimated to be $640,000, prepare the company's budgeted annual income statement. JASPER FRUITS CORPORATION Budgeted Annual Income Statement Sales revenue $ 3.131 680 Cost of goods sold (2 035,592) Gross profit 1,096 088 Selling & administrative expenses (640,000) Net income $ 456.088 Required A Required B Required C1 Required C2 Ms. Jasper estimates next year's ending inventory will be $34,200 for peaches. Prepare the company's inventory purchases budgets for the next year, showing quarterly figures by product. (Round your final answers to nearest whole dollar.) First Quarter Second Quarter Third Quarter Fourth Quarter Sales 34,200 Cost of goods sold Plus: Desired ending inventory Inventory needed Less: Beginning inventory Required purchases 0 0 0 34,200 $ 0 $ 0 $ 0 S 34,200 Required A Required B Required ci Required C2 Ms. Jasper estimates next year's ending inventory will be $57,400 for oranges. Prepare the company's inventory purchases budgets for the next year, showing quarterly figures by product. (Round your final answers to nearest whole dollar.) First Quarter Second Quarter Third Quarter Fourth Quarter Sales 57 400 Cost of goods sold Plus Desired ending inventory Inventory needed Less: Beginning inventory Required purchases 0 0 0 57.400 0 $ 0 S 0 $ 57,400