Kingbird, Inc. is a company that manufactures and sells a single product. Unit sales for each of the four quarters of 2020 are projected as follows.

Quarter		Units
First		99,200
Second		186,000
Third		682,000
Fourth		148,800
Annual total		1,116,000

Kingbird incurs variable manufacturing costs of $0.40 per unit and variable nonmanufacturing costs of $0.40 per unit. Kingbird will incur fixed manufacturing costs of $892,800 and fixed nonmanufacturing costs of $1,339,200. Kingbird will sell its product for $4 per unit.

Determine the amount of net income Kingbird will report in each of the four quarters of 2020, assuming actual sales are as projected and employing the integral approach to interim financial reporting. (Ignore income taxes.) Repeat the analysis under the discrete approach.

		1st Quarter		2nd Quarter		3rd Quarter		4th Quarter
Net income (Integral Approach)		$		$		$		$
Net income (Discrete Approach)		$		$		$		$

Compute Kingbirds profit margin on sales for each of the four quarters of 2020 under both the integral and discrete approaches.

		Profit margin on sales
		1st Quarter		2nd Quarter		3rd Quarter		4th Quarter
Integral approach		%		%		%		%
Discrete approach		%		%		%		%