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 office salaries Depreciation Interest Tax rate 10% of sales dollars $20,000 per month 11% of sales dollars $72,000 per month $50,000 per month 118 annually on a $280,000 note payable 38% Prepare a budgeted income statement for this first quarter. (Round your final answers to the nearest whole dollar.) FORTUNE, INC. Budgeted Income Statement For Quarter Ended March 31 Operating expenses