1. Develop a quarterly budget for "TechSolutions Ltd.," an IT services company, with the following projections:
   • Expected revenues: $800,000
   • Anticipated cost of services: $400,000
   • Projected operating expenses: $200,000
   • Interest expenses estimated at $30,000
   • Tax rate of 20%

Present the budgeted income statement for TechSolutions Ltd., highlighting key financial metrics and potential areas of cost control.