An 12% decrease in sales is predicted due to basic developments in population, capital formation, and technology (trend component). A 15% increase in sales is expected due to a business improvement (cycle component). Increased tensions in Prague are expected to reduce sales by an additional 18% (erratic events component). Sales results are reasonably consistent throughout the year except for the third quarter, where sales are expected to be 23% higher than the other quarters (seasonal component).

Sales in 2019 were 15,030,000, forecast the sales for 2020.

The revised forecast for 2020 is

1. $12,472,495

2. $17,284,500

3. $12,693,438

4. none of the above