Fortune Incorporated is preparing its master budget for the first quarter. The company sells a single product at a price of $$25$ per unit. Sales $($in units$)$ are budgeted at $156,000$ for the first quarter. Cost of goods sold is $$12$ per unit. Other expense information for the first quarter follows.

$\backslash$table$[[$Sales Commissions,$9\%$ of sales dollars$],[$Rent$,$$$44,000$ per quarter,$],[$Advertising$,$$$550,000$ per quarter,$],[$Office salaries,$$219,000$ per quarter,$],[$Depreciation$,$$$105,000$ per quarter,$],[$Interest$,1\mathrm{.}25\%$ quarterly on $$280,000$ note payable,$],[$Tax rate,$40\%,]]$

Prepare a budgeted income statement for the first quarter ended March $31.$

Note: Round your intermediate and final answers to the nearest whole dollar.