Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single product at a price of $25 per unit. Sales (in units) are forecasted at 39,000 for January, 59,000 for February, and 49,000 for March. Cost of goods sold is $12 per unit. Other expense information for the first quarter follows. Commissions Rent Advertising 10% of sales dollars $19,000 12% $75,000 Office salaries Depreciation $ 47,000 Interest Tax rate per month of sales dollars per month per month 13% annually on a $270,000 note payable 30% Prepare a budgeted income statement for this first quarter. HINT - You are not making an income statement for only one month. Rather it is for a 3-month period. (Round your final answers to the nearest whole dollar.) Operating expenses FORTUNE, INC. Budgeted Income Statement For Quarter Ended March 31