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 39,000 for January 59,000 for February, and 49,000 for March Cost of goods sold is $12 per unit Other expense information for the first quarter follows. DOO Commissions Rent Advertising office salaries Depreciation Interest Tax rate 111' of salen dollars $18,000 per month 146 of sales dollars $ 73,000 per month $ 52,000 per month 116 annually on a $220,000 note payable 30 Prepare a budgeted income statement for this first quarter. (Round your final answers to the nearest whole dollar.) FORTUNE, INC. Budgeted Income Statement For Quarter Ended March 31 $ 1,323,000 Sales income taxes payable Gross profit Operating expenses Commissions expense Rent expense Advertising expense Office salaries expense Depreciation expense Interest expense 54,000 Prepare a budgeted income statement for this first quarter. (Round your final answers to the nearest whole dollar.) FORTUNE, INC. Budgeted Income Statement For Quarter Ended March 31 1,323,000 Sales income taxes payable Gross profit Operating expenses Commissions expense Rent expense Advertising expense Office salaries expense Depreciation expense Interest expense 54,000 Total operating expenses 54,000 (54,000) Income tax expense Net income $ -54,000