Portin Limited produces and sells a single product a wearable LED light for runners and cyclists. The analytics group Fortin Limited has developed the following estimates for unk sales in the upcoming year First Second Third Yourth Quarter Quarter Quarter Quarter Tudgeted unit sales 24.00 22, 20.00 ints Book The light sels for $30 per unit and all sales are on account. 75% of sales we expected to be collected in the quarter of sale, with the remainder in the following quarter. Accounts receivable at the beginning of the quarter were $163.000 and will all be collected during the first quarter of the year At the end of the previous quarter there were 2.200 units in finished goods Traventory. The desired ending finished goods inventary at the end of each quarter is 10% of the next quarter's budgeted sales Management expects sales in the fourth quarter of the upcoming year to be the same as the first quarter of the following year Parerences Required: 1-0. Prepare the company's soles budget Budgeted un Selling once par Total se First Quarter 24.000 30 747.000 Second Quarter 22.000 50 65400013 Third Fourth Quarter Quarter Yem 20,200 2.300 19.200 SG 30 30 858.000 5 832.000 3 2.679.000 5 6 5-6. Prepare the schedule of expected cash collections 10 DO TORTIMED F ter Da be : Islam ne CENE 2. Presene.company's product on budete pomocy FORTIN LATED De B Fortin Limited produces and sells a single product, a wearable LED light for runners and cyclists. The analytics group at Fortin Limited has developed the following estimates for unit sales in the upcoming year First Second Third Fourth Quarter Quarter Quarter Quarter Budgeted unit sales 24,90 22,820 20,200 21,300 Book rint -ences The light sells for $30 per unit and all sales are on account. 75% of sales are expected to be collected in the quarter of sale with the remainder in the following quarter Accounts receivable at the beginning of the quarter were $163,000 and will all be collected during the first quarter of the year At the end of the previous quarter there were 2.200 units in finished goods inventory The desired ending finished goods inventory at the end of each quarter is 10% of the next quarter's budgeted sales Management expects sales in the fourth quarter of the upcoming year to be the same as the first quarter of the following year. Requireel: 1-a. Prepare the company's sales budget First Second Third Fourth Quarter Year Quarter Quarter Quarter 24.000 22.800 Budgeted unit sales 20.200 21.300 89.200 30 30 30 30 30 Seling price per unit S Total Sales 747.000 5 884.000 5 2.678.000 630.000 300.000