Solaris Corporation prepared the following estimates for the four quarters of the current year:

Additional Information

First$-$quarter administrative costs include the $$140,000$ annual insurance premium.

Advertising costs paid in the second quarter relate to television advertisements that will be broadcast throughout the entire year.

No special items affect income during the year.

The company estimates an effective income tax rate for the year of $25$ percent.

a$.$ Assuming that actual results do not vary from the estimates provided, determine the amount of net income to be reported each

quarter of the current year.

b$.$ Assume that actual results do not vary from the estimates provided except for that in the third quarter, the estimated annual

effective income tax rate is revised downward to $22$ percent. Determine the amount of net income to be reported each quarter of

the current year.