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 158,000 for the first quarter. Cost of goods sold is $12 per unit. Other expense Information for the first quarter follows. 3ales Commissions Rent Advertising Office salaries Depreciation Interest Tax rate 20+ of sales dollar: $ 44,000 per quarter $ 595,000 per quartex $ 212,000 per quarter $ 139,000 per quarter 1.000 quarterly on $300,000 note payable 30% Prepare a budgeted Income statement for the first quarter ended March 31. (Round your intermediate and final answers to the nearest whole dollar.) FORTUNE, INCORPORATED Budgeted Income Statement For Quarter Ended March 31 Sales Cost of goods sold Gross profit Selling, general and administrative expenses Sales commissions expense Rent expense Advertising expense Office salaries expense Depreciation expense Interest expense 0 Income before taxes Income tax expense Net income S 0