Sweeney Molort is a chain of car dealerships. Sales in the fourth quarter of last year were $4,200,000. Suppose management peojects that its current years quartany sales will incresse by 4$ in quarler 1 , by another 6% in quarter 2 , by another 7% in quanter 3 , and by another 2% in quarter 4 . Management expects cost of goods sold to be 55% of rovenues every quarter, while operating expenses should be 30% of revenwes during each of the first two quaters, 25% of revenues during the third quarter, and 35% during the fourth quartee. Requirement: Prepare a budgoted income statement for each of the four quarters and for the nintire year.