Bell Smythe manufactures a specialty precision scale. For January, the company expects to sell 700 scales at an average price of $2,390per unit. The average manufacturing cost of each unit sold is $1,440. Variable operating expenses for the company will be $1.30 per unit sold and fixed operating expenses are expected to be $7,300for the month. Monthly interest expense is $3,600. The company has a tax rate of 20% of income before taxes. Prepare Bell Smythe's budgeted income statement for January.

Bell Smythe
Budgeted Income Statement
For the Month Ended January 31
Sales =
Less: Cost of goods sold=
Gross profit =
Less: Operating expenses
Variable portion =
Fixed portion =
Operating income =
Less: Interest expense =
Less: Income tax expense =
Net income =