Solomon Company has provided the following Year $2$ data.

Budget

Sales $ $507,000$

Variable product costs $197,000$

Variable selling expense $49,000$

Other variable expenses $3,400$

Fixed product costs $16,100$

Fixed selling expense $23,500$

Other fixed expenses $2,000$

Interest expense $790$

Variances

Sales $7,700$ Unfavorable

Variable product costs $4,500$ Favorable

Variable selling expense $1,600$ Unfavorable

Other variable expenses $1,300$ Unfavorable

Fixed product costs $250$ Favorable

Fixed selling expense $480$ Favorable

Other fixed expenses $190$ Unfavorable

Interest expense $140$ Favorable

Required

Prepare a budgeted and actual income statement for internal use.