Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow: First Quarter Second Quarter Third Quarter Fourth Quarter Total Sales revenue $ 181,000 $ 211,000 $ 221,000 $ 271,000 $ 884,000 Cost of goods sold 108,600 126,600 132,600 162,600 530,400 Gross profit 72,400 84,400 88,400 108,400 353,600 Selling & administrative expenses 18,100 21,100 22,100 27,100 88,400 Net income $ 54,300 $ 63,300 $ 66,300 $ 81,300 $ 265,200 Historically