Jasper Fruits Corporation wholesales peaches and oranges. Barbara Jaspers working with the company's accountant to prepare next year's budget. Ms. Jasper estimates that sales will increase 5 percent for peaches and 10 percent for oranges. The current year's sales revenue data follow. Second third Fourth Quarter Quarter Quarter Quarter Peaches $225,000 $245,000 $305,000 $245,000 $1,020,000 Oranges 415,000 465,000 585,000 395,000 1,860,000 Total $640,000 $710,000 $890,000 $640,000 $2,880,000 Based on the company's past experience, cost of goods sold is usually 60 percent of sales revenue. Company policy to keep 20 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 $34700 for peaches and $56,800 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 Required Required Required B C D 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 Required A Required B Jasper Fruits Corporation wholesales peaches and oranges. Barbare Jaspers working with the company's accountant to prepare next year's budget. Ms. Jasper estimates that sales wil increase 5 percent for peaches and 10 percent for Oranges. The current year's sales revenue data follow First Second thirdFourth Quarter Quarter Quarter Quarter Total Peaches $225,000 $245,000 $305,000 $245,000 $1,020,000 Oranges 415,000 465,000 585,000 395,000 1,850,000 Total $640,000 $710,000 $890,000 $640,000 $2.880.000 Based on the company's past experience, cost of goods sold is usually 60 percent of sales revenue. Company policy to keep 20 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 seling 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 $34700 for peaches and $56,800 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 Required Required Required 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 Jasper Fruits Corporation wholesales peaches and oranges. Barbare Jasper is working with the company's accountant to prepare next year's budget. Ms. Jasper estimates that sales will increase 5 percent for peaches and 10 percent for oranges. The current year's sales revenue data follow. First second third Fourth Quarter Quarter Quarter Quarter Total Peaches $225,000 $245,000 $305,000 $245,000 $1,020,000 Oranges 415,000 465,000 585,000 395,000 1,860,000 Total $640,000 $710,000 $890,000 $640,000 $2,880,000 Based on the company's past experience, cost of goods sold is usually 60 percent of sales revenue. Company policy to keep 20 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 $34,700 for peaches and $55,800 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 Required Required Required C1 Ms. Jasper estimates next year's ending inventory will be $34,700 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.) Show less First Second Fourth Quarter Quarter Quarter Quarter Third Inventory needed Required purchases Jasper Fruits Corporation wholesales peaches and oranges. Barbara Jaspers working with the company's accountant to prepare next year's budget Ms. Jasper estimates that sales w increase 5 percent or peaches and 10 percent for oranges. The current year's sales revenue data follow First Second thirdFourth Quarter Quarter Quarter Quarter Total Peaches $225,000 $245,000 $305,000 $245,000 $1,020,000 Oranges 415,000 465,000 585,000 395,000 1,850,000 Total $640,000 $710,000 $890,000 $640,000 $2,830,000 Based on the company's past experience, cost of goods sold is usually 60 percent of sales revenue. Company policy to keep 20 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 $34,700 for peaches and $56,800 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 Required Required Required A B C1 C2 Ms. Jasper estimates next year's ending inventory will be $56,800 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.) Show less First Second Third Fourth Quarter Quarter Quarter Quarter Inventory needed Required purchases Required C1 Required 2