Brady Shiller manufactures a specialty precision scale. For January, the company expects to sell 1200 scales at an average price of $ 2380 per unit. The average manufacturing cost of each unit sold is $ 1420. Variable operating expenses for the company will be $ 1.90 per unit sold and fixed operating expenses are expected to be $ 7200 for the month. Monthly interest expense is $ 3900. The company has a tax rate of 20 % 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