Take me to the text Hype Sports Inc. is a retailer of clothing and sports equipment. The following is Hype Sports' sales forecast by quarter for the upcoming year. Hype Sports Inc. Forecasted Sales For the Year Ended December 31, 2022 Q1 Q2 Q3 Q4 Total Sales $127,000 $298,000 $372,000 $246,000 $1,043,000 In addition, sales in Q3 and Q4 of 2021 totaled $125,000 and $194,000 respectively. According to the company's sales records, 51% of sales are 49% of credit customers pay during the quarter in which the sale took place 35% of credit customers pay in the quarter immediately following the quarter of sale 14%% of credit customers pay in the second quarter following the quarter of sale The remaining 2% of credit sales are uncollectible Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. a) Calculate the forecasted sales for each quarter (separate revenue into cash and credit sales). Hype Sports Inc. Forecasted Sales For the Year Ended December 31, 2022 Q1 Q2 Q3 Q4 Total Sales Cash Sales (@51% of quarter's sales) Credit Sales (@49% of quarter's sales) $ b) Prepare the cash receipts section of the 2022 cash budget (on a quarterly basis) Hype Sports Inc. Cash Receipts For the Year Ended December 31, 2022 Q1 Q2 Q3 Q4 Total Cash Sales Current Collections (49%) Previous Quarter Collection (35%) Two Previous Quarter Collection (14%) $ Total Cash Receipts Check