Brandy Sonney manufactures a specialty precision scale. For January, the company expects to sell 1,200 scales at an average price of $2,390 per unit. The average manufacturing cost of each unit sold is $1,490. Variable operating expenses for the company will be $1.50 per unit sold and fixed operating expenses are expected to be $7,700 for the month. Monthly interest expense is $3,100. The company has a tax rate of 20% of income before taxes. Prepare Brandy Sonney's budgeted income statement for January Brandy Sonney 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