Budgeted Income Statement For the Quarter Ended March 31 4 Sales revenue Less: Cost of goods sold 6 Gross profit Less: Operating expenses 8 Less:Depreciation expense 9 Operating income 10 Less: Interest expense 11 Less: Income tax expense 12 Net income 13 Hint: Cost of goods sold-Budgeted cost of manufacturing one unit Number of units sold Budgeted Income Statement For the Quarter Ended March 31 4 Sales revenue Less: Cost of goods sold 6 Gross profit Less: Operating expenses 8 Less:Depreciation expense 9 Operating income 10 Less: Interest expense 11 Less: Income tax expense 12 Net income 13 Hint: Cost of goods sold-Budgeted cost of manufacturing one unit Number of units sold