Horizontal Co. is preparing the operating budget for the first month of 2024. They forecast sales of $90,000 in January. Cost of goods sold is budgeted at 45% of Sales. Variable and fixed expenses are as follows: Variable: HSR Miscellaneous expenses: 10% of Sales Fixed: Salary expense: $22,000 per month Rent expense: $8,000 per month Depreciation expense: $2,000 per month Miscellaneous expenses/fixed portion: $1,000 per month. What is the budgeted operating Profit/(Loss) for January?

AB BI Budgeted Income Statement Sales Revenue Less: COGS (45% of sales) =Gross Profit Less Variable Expenses Contribution Margin JANUARY I 00