Fortune Incorporated 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 budgeted at 159,000 for the first quarter. Cost of goods sold is $12 per unit. Other expense information for the first quarter follows Sales Commissions 84 of sales dollars Rent $ 50,000 per quarter Advertising $ 563,000 per quarter Office salaries $ 295,000 per quarter Depreciation $ 126,000 per quarter Interest 1.754 quarterly on $260,000 note payable Tax rate 304 Prepare a budgeted Income statement for the first quarter ended March 31. (Round your Intermediate and final answers to the nearest whole dollar.) 3:06 FORTUNE, INCORPORATED Budgeted Income Statement For Quarter Ended March 31 Selling, general and administrative expenses