Monette Labs performs a specialty lab test for local companies for $55 per test. For the upcoming quarter, Monette Labs is projecting the following sales: The budgeted cost of performing each test is $29. Operating expenses are projected to be $55,000 in January, $50,000 in February, and $59,000 in March. Monette Labs is subject to a corporate tax rate of 30%. Requirement Prepare a budgeted income statement for the first quarter, with a column for each month and for the quarter. Prepare the budgeted income statement by first calculating the operating income, then calculate the net income