Pater's Paints expects the following sales in units in the last quarter (Oct-Dec) of 2020: Oct 44,000; Nov 58,000; Dec 66,000 and 60,000 for January 2021. The business has inventory of 8,800 finished units on hand at 19 October and has a target finished inventory of 20% of the following month's sales units. The units are purchased for $15 and sold for $35 cach. Payment for purchases is made in the month following purchase. Accounts payable for purchases as at 30 September was $612,000. Required: 1. Prepare the sales budget for the quarter October - December 2020 (showing each month and the total for the quarter) (see format p. 106 Exhibit 3.6 the first 3 lines only). You do not need to prepare/include the cash/credit sales split or the schedule of expected cash collections. 2. Prepare the purchases budget for the quarter October - December 2020 (showing each month and the total for the quarter) (see format p.110 Exhibit 3.10) You do need to include the expected payments for purchases. 3. The marketing manager has informed the management accountant that she now expects sales in January 2021 to be much lower than anticipated. The management accountant does not think that this will have any effect on the Oct-Dec 2020 purchases budget, as this is beyond the budget period. Do you think that he is correct? Can you think of any figure(s) in the 2020 budget that may need re-evaluating, and if so, why