Score: 0 of 2 pts 4 of 102 complete HW Score: 14% 2.8 of 20 pt E9-27A (similar to) Gunthon Hp 0 Monte Motor is a chain of car dealerships Sales in the fourth quarter of last year were $4.000.000. Suppose management projects that is current year's quarterly sales will increase by howarter 1. by another 7% in quarter 2 by her % in quand by another 2% in quarter 4. Management expects cost of goods sold to be 40% of revenues every water, while operating experies should be 20% of events during each of the first two quarters, 21 warg ridwand during the fourth quarter Requirement Prepare a budgeted income and for each of the four quarters and for the entire you Prepare the first portion of the budgeted income statement through gross proht then complete the emere. (Cound to one to the nearest while doar Monette Motors Budgeted Income Statement For the upcoming Year Quarter Quarter 2 Quarter Quarter 4 Year Cost of goods sold Enter the edities and then click Check Answer CNICA CA SO EN . :: bu 10 :8 E9-27A (similar to) Monette Motors is a chain of car dealerships. Sales in the fourth quarter of last year were $4,000,000. Suppose management projects that its curre 4% in quarter 3, and by another 2% in quarter 4. Management expects cost of goods sold to be 40% of revenues every quarter, while operating exp the third quarter, and 35% during the fourth quarter. Requirement Prepare a budgeted income statement for each of the four quarters and for the entire year Prepare the first portion of the budgeted income statement through gross profit, then complete the statement. (Round the amounts to the nearest w Monette Motors Budgeted Income Statement For the upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Sales Less: Cost of goods sold Gross profit Enter any number in the edit fields and then click Check Answer. Question Help 0,000. Suppose management projects that its current year's quarterly sales will increase by 3% in quarter 1, by another 7% in quarter 2, by another 40% of revenues every quarter, while operating expenses should be 20% of revenues during each of the first two quarters, 25% of revenues during the statement. (Round the amounts to the nearest whole dollar.) Year Check