HOMEWORK $4$ 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 $152,000$ for the first quarter. Cost of goods sold is $$12$ per unit. Other expense information for the first

quarter follows.

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

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