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 7 percent for peaches and 12 percent for oranges. The current year's sales revenue data follow Peaches Oranges Total First Quarter $238,000 412,000 $650,000 Second Quarter $258,000 462 000 $720,000 Third Quarter $318,000 582,000 $900,000 Fourth Quarter $258,000 392,000 $650,000 Total $1,072,000 1,848,000 $2,920,000 Based on the company's past experience, cost of goods sold is usually 60 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 $620,000, prepare the company's budgeted annual income statement. c. Ms. Jasper estimates next year's ending inventory will be $35,400 for peaches and $56,400 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 or the next year for each quarter by individual product Second Fourth First Quarter Quarter Total Third Quarter Quarter Peaches $ 243,960 $ 243.960 Oranges $ Total $ 243.960 $ 0$ os os 243,960 0