Best Sound manufactures hearing aid devices. For January, Best Sound expects to sell 1,300 hearing aid devices at an average price of $2,350 per unit. Best Sound's average manufacturing cost of each unit sold is $1,400. Variable operating expenses for Best Sound will be 51.20 per unit sold and fixed operating expenses are expected to be $7,700 for the month. Monthly interest expense is $3,900. Best Sound has a tax rate of 30% of income before taxes. Prepare Best Sound's budgeted income statement for January Best Sound 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: Provision for income taxes Net income