Bridgeport Company has budgeted the following for the year ended December 31, 2022: 1. Sales: 50,700 units; unit selling price $75. 2. Cost of one unit of finished goods: direct materials, 2 kg at $4 per kilogram; direct labour, 4 hours at $12 per hour; and manufacturing overhead, $2 per direct labour hour. 3. Selling and administrative expenses: $148,000. 4. Income taxes: 25% of income before income taxes. Prepare a budgeted income statement for the year ended December 31, 2022. BRIDGEPORT COMPANY Budgeted Income Statement For the Year Ended December 31, 2022 Sales $ 3802500 Cost of goods sold Gross profit Selling and administrative expenses Net income before income taxes Income taxes Net income