Wildhorse Equipment Company manufactures and distributes industrial air compressors. The following data are available for the year ended December 31, 2022. The company had no beginning inventory. In 2022, it produced 1,460 units but sold only 1,240 units. The unit selling price was $4,560. Costs and expenses were as follows: Variable costs per unit Direct materials Direct labour $700 1,450 Variable manufacturing overhead 260 Variable selling and administrative expenses 65 Annual fixed costs and expenses Fixed manufacturing overhead $1,195,200 Selling and administrative expenses 103,000 Prepare a 2022 income statement for Wildhorse Company using throughput costing. WILDHORSE EQUIPMENT COMPANY Income Statement < < < < < < Throughput Costing $ $ $