Preparing a sales budget

Cambridge Company, which expects to start operations on January 1, 2018, will sell tablets and accesories in shopping malls. Cambridge has budgeted sales as indicated in the following table. The company expects a 10 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. SALES JANUARY FEBRUARY MARCH Cash Sales Sales on Account Total Budgeted Sales $60,000 90,000 $150,000 Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Cambridge will report on its first quarter pro forma income statement