Fortune. Inc is preparing its master budget for the first quarter. The compary selis a single product at a price of $25 per unit. Sales (in units) are budgeted at 150,000 for the first quarter. Cost of goods sold is $14 per unit. Other expense information for the first quarter can be obtained from your text Answer the following questions for the budgeted income statement for the first quarter ended March 31. Round expense amount to the nearest dollar. The amount of Gross Profit is Integer, decimal, or E notation allowed Question 2 Sales commission expense would be valued at $12.000 $300.000 $562.500 None of the above If interest expense was $3,125 (calculated as $250,0001.25% ). Income before income taxes must have been $1.252.625 $397,375 $119,213 $1,650,000 Question 4 If income tax expense was $119,213, then net income must have been $2,100,000 $562.500 $1.252625 $120.000 5270.162 Fortune. Inc is preparing its master budget for the first quarter. The compary selis a single product at a price of $25 per unit. Sales (in units) are budgeted at 150,000 for the first quarter. Cost of goods sold is $14 per unit. Other expense information for the first quarter can be obtained from your text Answer the following questions for the budgeted income statement for the first quarter ended March 31. Round expense amount to the nearest dollar. The amount of Gross Profit is Integer, decimal, or E notation allowed Question 2 Sales commission expense would be valued at $12.000 $300.000 $562.500 None of the above If interest expense was $3,125 (calculated as $250,0001.25% ). Income before income taxes must have been $1.252.625 $397,375 $119,213 $1,650,000 Question 4 If income tax expense was $119,213, then net income must have been $2,100,000 $562.500 $1.252625 $120.000 5270.162