Solaris Corporation prepared the following estimates for the four quarters of the current year: Additional Information - First-quarter administrative costs include the $200,000 annual insurance premium. - Advertising costs poid in the second quarter relate to television advertisements that will be broadcast throughout the entire year. - No special iems affect income during the year. - The compony estimates an effective income tax rate for the year of 25 percent. a. Assuming that octual results do not vary from the estimates provided, determine the amount of net income to be reported each quarter of the cument year b. Assume that actual rosults 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. \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Period } & Net income \\ \hline a. & 1st Quarter & \\ \hline & 2nd Quarter & \\ \hline & 3rd Quarter & \\ \hline & 4th Quarter & \\ \hline & & \\ \hline b. & 1st Quarter & \\ \hline & 2nd Quarter & \\ \hline & 3rd Quarter & \\ \hline & 4th Quarter & \\ \hline \end{tabular}