Suivan Inc., sells tire rims. Its sales budget and inventory, purchases, and cost of goods sold budget for the nine months ended September 30, 2016, follow: (Click the icon to view the sales budget and inventory, purchases, and cost of goods sold budget.) Sullivan's selling and administrative expenses include the following (Click the icon to view the expenses.) Prepare a selling and administrative expense budget for each of the three quarters of 2016 and totals for the nine-month period Ended Ended Ended Nine-month March 31 June 30 September 30 Total Data Table Variable expenses Commissions Expense Miscellaneous Expenses Total variable expenses Fixed expenses Rent Expense Salaries Expense Depreciation Expense Total fixed expenses Total selling and administrative expenses Rent, $2,000 per month Salaries, $4,500 per month Commissions, 3% of sales Depreciation, $1,300 per month Miscellaneous expenses, 1% of sales Print Done Sullivan, Inc. Sales Budget Nine Months Ended September 30, 2016 Quarter Ended Nine-Month March 31 June 30 September 30 Total 46,500 $ 108,500 139,500 325,500 465,000 $ 39,000$54,000 $ Cash sales, 30% Credit sales, 70% Total sales 91,000 126,000 $ 130,000$180,000 $ $ Sullivan, Inc Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2016 Quarter Ended Quarter Ended Quarter Ended Nine-Month March 31 June 30 September 30 Total 52,000 $ 27,200 79,200 $ 20,000 59,200| S$ 62,000 $ 29,200 91,200 26,200 65,000 186,000 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases 72,000 S 26,200 98,200$ 27,200 71,000 $