1.Welch Company, which expects to start operations on 1-1-2011, 1.Welch Company, which expects to start operations on 1-1-2011, Question 1.Welch Company, which expects to start operations on 1-1-2011, will sell digital cameras in shopping malls. Welch has budgeted sales as indicated in the following table. The company expects a 10% increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March.Sales JAN FEB MARcash sales $40,000 ? ?sales on account 100,000 ? ?total budgeted sales $140,000 ? ?A. Complete the sales budgeting by filling in the missing amounts.B. Determine the amount of sales revenue Welch will report on its first quarter pro forma income statement