St. Germaine Labs performs a specialty lab test for local companies for $58 per test. For the upcoming quarter, St. Germaine Labs is projecting the following sales:

The budgeted cost of performing each test is $33. Operating expenses are projected to be $61,000 in January, $50,000 in February, and $63,000 in March. St. Germaine Labs is subject to a corporate tax rate of 30%.

	January	February	March
Number of lab tests. . .	5,500	4,600	5,000

Requirement

Prepare a budgeted income statement for the first quarter, with a column for each month and for the quarter.