Mulligan Fruits corporation wholesales peaches and oranges Kimberly Priest is working with the company's accountant to prepare next year's budget. Ms. Priest estimates that sales will increase 6 percent for peaches and 11 percent tor oranges The current year's sales revenue data follow Based on the company's past experience. cost of goods sold is usually 65 percent of sales revenue Company policy is lo keep 15 percent of the next period s estimated cost of goods sold as the current period's ending inventory (Required: Prepare the company's sales budget for the next year for each quarter by individual product. If the seeing and administrative expenses are estimated to be $680,000, prepare the company's budgeted annual income statement. Ms Priest estimates next year's ending inventory will be $36,000 for peaches and S56.000 for oranges. Prepare the company's inventory purchases budgets for the next year, showing quarterly figures by product, (Round your answers to the nearest dollar amount.) Inventory purchases budget for peaches: Mulligan Fruits corporation wholesales peaches and oranges Kimberly Priest is working with the company's accountant to prepare next year's budget. Ms. Priest estimates that sales will increase 6 percent for peaches and 11 percent tor oranges The current year's sales revenue data follow Based on the company's past experience. cost of goods sold is usually 65 percent of sales revenue Company policy is lo keep 15 percent of the next period s estimated cost of goods sold as the current period's ending inventory (Required: Prepare the company's sales budget for the next year for each quarter by individual product. If the seeing and administrative expenses are estimated to be $680,000, prepare the company's budgeted annual income statement. Ms Priest estimates next year's ending inventory will be $36,000 for peaches and S56.000 for oranges. Prepare the company's inventory purchases budgets for the next year, showing quarterly figures by product, (Round your answers to the nearest dollar amount.) Inventory purchases budget for peaches