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 37,000 for January, 57,000 for February, and 47.000 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 11% of sales dollars $ 17,000 per month 12% of sales dollars $80,000 per month $ 54,000 per month 15% annually on a $210,000 note payable 40% 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 0 $ 0