nnectmheducaion.com/flow/connecthtml Saved Help Save & E Chec Noventis Corporation prepared the following estimates for the four quarters of the current year First Quarter Second QuarteE Ounrter Sales Coat ot goods sold Adminis 1,500,000 ;1,800,000 450,000 50,000 30, 000 205,000 2.100. 000 600,000 2 10, 000 2.400,000 650, 000 220,000 180,000 92,000 72,000 Prov i.ion tot bad debe Annual maiste 80,000 Additional Information First-quarter administrative costs include the $200,000 annual insurance premium - Advertisng costs paid in the second quarter relate to teievison advertisements that will be broadcast throughout the entire year - No special items affect income during the yea . Noventis estimates an effective income tax ,ate for the yea, of 40 percent g that actual resalts do not vary from the estimates provnded determane the amount of net income to be reported each ax rate is revised downward to 38 percent Determine the amount of net income to be reported each quarter of ssumin quarter of the curent year the current year