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. Prepare a budgeted income statement for this first quarter. HINT - You are not making an income statement for only one month. Rather it is for a 3-month period. (Round your final answers to the nearest whole dollar.) The following information is available for Zetrov Company: o. The cash budget for March shows an ending bank loan of $17,000 and an ending cash balance of $70,500. b. The sales budget for March indicates sales of $134,000. Accounts receivable are expected to be 60% of the current-month sales. c. The merchandise purchases budget indicates that $90,400 in merchandise will be purchased on account in March. Purchases on account are paid 100% in the month following the purchase. Ending inventory for March is predicted to be 740 units at a cost of $35 each. d. The budgeted income statement for March shows net income of $49,400. Depreciation expense of $2,400 and $27,400 in income tax expense were used in computing net income for March. Accrued taxes will be paid in April. e. The balance sheet for February shows equipment of $82,600 with accumulated depreciation of $31,400, common stock of $32,000, and ending retained earnings of $9,400. There are no changes budgeted in the equipment or common stock accounts. Prepare a budgeted balance sheet at the end of March. HINT - You will need to Include net income in determining ending retained earnings. Following are five series of costs A through E measured at various volume levels. Examine each series and identify which is fixed, variable, mixed, step-wise, or curvlinear