Question Help v D Cod Sesnie Motors is a chain of car dealerships Sales in the fourth quarter of last year were 53 800,000 Suppose management projects that is current year's quarterly sales will increase by 5% in quarter by another 2% in quarter 2 by another 7% in quarter 3, and by another 5% in quarter 4 Management expects cost of goods sold to be 55% of revenues every quarter while operating expenses should be 35% of revenues during each of the first two quarters, 30% of revenues during the third quarter, and 25% during the fourth quarter Requirement Prepare a budgeted Income statement for each of the four quarters and for the entire year M Prepare the first portion of the budgeted income statoment through gross profit. then complete the statement (Round the amounts to the nearest whole dolar) Sesnio Motors Budgeted Income Statement For the upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Sales Less: Cost of goods sold Gross pro E Enter any number in the edit fields and then click Check Answer part remaining CAR Check Answer OnJURIS DELL