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 45,000 for January, 65,000 for February, and 55,000 for March Cost of goods sold is $12 per unit. Other expense information for the first quarter follows Commissions Rent Advertising office salaries Depreciation Interest Tax rate 12% of sales dollar's $24,000 per month 14% of sales dollars 573,600 per month $ 46,000 per month 12% annually on a $220,000 note payable 30% Prepare a budgeted income statement for this first quarter (Round your final answers to the nearest whole dollar)