Please Explain With Explanation

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 3 percent for penches and 8 percent for 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 to keep 15 percent of the next period's estimated cost of goods sold as the current period's ending inventory. (Hint Use the cost of goods soid for the first quarter to determine the beginning inventory for the first quarter) Required a. Prepare the company's saies budget for the next yeat for each quarter by individual product. b. If the selling and odministrative expenses are estimated to be $640,000, prepare the company's budgeted annual income statement: c-1. Ms. Jasper estimates next year's ending inventory will bo $35,500 for peaches. Prepare the company's inventory purchases budgets for the next year, showing quarterly figures for peoches. c-2. Ms. Jasper estimates next year's ending inventory will bo $56,700 for oranges. Prepore the company's inventory purchases budgets for the next yeac, showing quarterly figures for oranges. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the company's sales budget for the next year for each quarter by individual product. Complete this question by entering your answers in the tabs below. If the selling and administrative expenseqf are estimated to be $640,000, prepare the company's budgeted annual income statement. Complete this question by entering your answers in the tobs below. Ms. Jasper estimates next yesr's ending inventory will be $35,500 for peaches. Prepare the cocnpany's inventory burchakes budgets for the next year, showing quarterly figures for peaches Note- Round your final arswers to pearest whole doller. Complete this question by entering your answers in the tabs below. Ms. Jasper estimates next year's ending inventory will be $56,700 for oranges. Prepare the company's inventory purchases budgets lor the next year, showing quarterly figures for oranges. Note: Round your final answers to nearest whole dollar