Brady Shiller manufactures a specialty precision scale. For January, the company expects to sell 700 scales at an average price of $2,390 per unit. The average manufacturing cost of each unit sold is $1,400. Variable operating expenses for the company will be $1.60 per unit sold and fixed operating expenses are expected to be $7,200 for the month. Monthly interest expense is $3,800. The company has a tax rate of 40% of income before taxes. Prepare Brady Shiller's budgeted income statement for January. Brady Shiller 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