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 8% of sales dollars $22,000 per month 134 of sales dollars $ 78,000 per month $50,000 per month 111 annually on a $260,000 note payable 304 Prepare a budgeted income statement for this first quarter. (Round your final answers to the nearest whole dollar.) FORTUNE, INC Budgeted Income Statement Forwarter Ended ch 31 Operating expenses D $ 0