Mom's Touch Specialty Foods produces a specialty danish that is sold to hotel chains by the case for $55 per case. For the upcoming quarter, Mom's Touch is projecting the following sales The budgeted cost of manufacturing each case is $27 Operating expenses are projected to be $59.000 in January, $52,000 in February, and $65,000 in March Mom's Touch is subject to a corporate tax rate of 30% Requirement 1. Prepare a budgetod income statement for the first quarter, with a column for each month and for the quarter January 5,400 February 4,900 March 6,500 Cases of danishes Prepare the budgeted income statement by first calculating the operating income, then calculate the net incon Mom's Touch Specialty Foods Budgeted Income Statement For the Quarter Ended March 31 January February March Quarter Sales Cost of goods sold Gross profit Operating expenses Operating income Provision for income taxes Not income