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 44.000 for January, 64,000 for February, and 54,000 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 8% of sales dollars $19.000 per month 10% of sales dollars 579,000 per month 554,000 per month 12% annually on a $250,000 note payable 30% Prepare a budgeted income statement for this first quarter (Round your final answers to the nearest whole dollar)