The condensed budgeted income statement for the Jennifer and David partnership for 2022 is as follows: JENNIFER AND DAVID LLP Income Statement Year Ending December 31, 2022 Sales (216,000 units) Cost of goods sold Gross profit Operating expenses $1,080,000 720,000 360,000 Selling $252,000 Administrative 135,000 387,000 Operating loss $(27,000)