Jasper Fruits Corporation wholesales peaches and oranges. Barbara Jasper is working with the companys accountant to prepare next years budget. Ms. Jasper estimates that sales will increase 6 percent for peaches and 11 percent for oranges. The current years sales revenue data follow:

4 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 Third Quarter $229,000 $249,000 $309,000 $249,000 1,036,000 First Quarter Second Quarter Fourth Quarter Total Peaches Oranges Total 419,000 469,000 89-90 589,000 399,00e 1,876,000 $648,000 $718,000 898,000 $648,000 $2,912,000 eBook Based on the company's past experience, cost of goods sold is usually 60 percent of sales revenue. Company policy is to keep 15 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 $680,000, prepare the company's budgeted annual income statement. c. Ms.Jasper estimates next year's ending inventory will be $34,300 for peaches and $57,300 for oranges. Prepare the company's inventory purchases budgets for the next year, showing quarterly figures by product. Complete this question by entering your answers in the tabs below 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 Second Quarter Third Quarter Fourth Quarter Total Peaches Oranges Total