Answer:
<u>Budgeted Income Statement for each of the four quarters and for the entire year</u>
Quarter                        1st                    2nd                3rd                  4th 
Sales                     $4,738,000    $5,069,660    $5,323,143     $5,536,069
Cost of Sales       ($2,132,100)     ($2,281,347)  ($2,395,414)     ($2,491,231)
Gross Profit          $2,605,900     $2,788,313    $2,927,729     $3,044,838
Operating Costs  ($1,421,400)    ($1,520,898)  ($1,330,786)      ($1,107,214)
Operating Profit    $1,184,500      $1,267,415     $1,596,943      $1,937,624
Explanation:
Pay attention to the calculation of the following amounts :
- Sales - These are based on increments per quarter
- Cost of Sales - The Cost for quarter is at 45% of Revenue
- Operating Costs - Based on Sales amounts ( 30 % in the first two quarters , 25% in third and 20% in the 4th quarter.)