Requirement 1. Prepare budgeted income statements for both options, assuming both options begin in January and January sales remain $10,000 Round all calculations to the nearest dollar Begin by preparing the budgeted income statement for Option 1 Gambrell Company Budgeted Income Statement For the Quarter Ended March 31, 2018 January Sales Revenue Cost of Goods Sold: Gross Profit S and A Expenses Operating Income Income Tax Expense Net Income