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 42,000 for January, 62,000 for February, and 52,000 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 111 of sales dollars $25,000 per month 12% of sales dollars $78,000 per month $53,000 per month 114 annually on a $290,000 note payable 30 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 Operating expenses $ 0