$11$

Fortune Incorporated is preparing its master budget for the first quarter. The company sells a single product at a price

of $$25$ per unit. Sales $($in units$)$ are budgeted at $156,000$ for the first quarter. Cost of goods sold is $$12$ per unit. Other

$0\mathrm{.}9$

expense information for the first quarter follows.

points

Prepare a budgeted income statement for the first quarter ended March $31.($Round your intermediate and final

answers to the nearest whole dollar.$)$