Bentfield Labs performs a specialty lab test for local companies for $48 per test.The budgeted cost of performing each test is $23. Operating expenses are For the upcoming quarter, , Bentfield Labs is projecting the following sales projected to be $59,000 in January, $51,000 in February, and $63,000 in March Bentfield Labs is subject to a corporate tax rate of 30% January February March Requirement Prepare a budgeted income statement for the first quarter, with a column for each month and for the quarter Number of lab tests 5,400 4,700 5,500 Prepare the budgeted income statement by first calculating the operating income, then calculate the net income Bentfield Labs Budgeted Income Statement For the Quarter Ended March 31 January Februa ry M arch Quarter Sales Less: Cost of goods sold Gross profit Less: Operating expenses Operating income