Fortune, Inc., 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 forecasted at 41,000 for January, 61,000 for February, and 51,000 for March. Cost of goods sold is $12 per unit. Other expense information for the first quarter follows. Commissions Rent Advertising Office salaries Depreciation Interest Tax rate 12% of sales dollars $ 23,000 per month 11% of sales dollars $70,000 per month $ 45,000 per month 14% annually on a $240,000 note payable 30% Prepare a budgeted income statement for this first quarter. (Round your final answers to the nearest whole dollar.)