Germaine Labs performs a specialty lab test for local companies for $ 55 per test. For the upcoming quarter, Germaine Labs is projecting the following sales:

The budgeted cost of performing each test is $ 31. Operating expenses are projected to be $ 61,000 in January, $ 58,000 in February, and $ 62,000 in March. Germaine 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 thequarter.

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January Fobruary March 5,200 4,600 5,100 Number of lab tests