Boyle Sutton manufactures a specialty precision scale. For January, the company expects to sell 1,000 scales at an average price of $2,360 per unit. The average manufacturing cost of each unit sold is $1,470. Variable operating expenses for the company will be $1.10 per unit sold and fixed operating expenses are expected to be $7,000 for the month. Monthly interest expense is $3,900. The company has a tax rate of 20% of income before taxes. Prepare Boyle Sutton's budgeted income statement for January Doyle sullon Budgeted Income Statement For the Month Ended January 31 Sales $ 2,360,000 1,470,000 890,000 Less: Cost of goods sold Gross profit Less: Operating expenses Variable portion 1,100 7,000 Fixed portion Operating income Less: Interest expense 881,900 3,900 Less: Income tax expense Net income Enter any number in the edit fields and then click Check