The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming fiscal year 1st Quarter 20,000 2nd Quarter 19,000 3rd Quarter 18,000 4th Quarter 19,000 Budgeted unit sales The selling price of the company's product is $23.00 per unit. Management expects to collect 70% of sales in the quarter in which the sales are made, 20% in the following quarter, and 10% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $69,000 The company expects to start the first quarter with 4,000 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 4,200 units Required 1a. Compute the company's total sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total sales 1b. Complete the schedule of expected cash collections. (Do not round intermediate calculations. Leave no cells blank be certain to enter "O" wherever required.) Graber Corporation Schedule of Expected Cash Collections 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Accounts receivable, beginning balance 1st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales Total cash collections