$4$

Fortune Incorporated is preparing its master budget for the first quarter. The company sells a single product at a price of $$25$ per unit. Sales $($in units$)$ are budgeted at $150,000$ for the first quarter. Cost of goods sold is $$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 intermediate and final answers to the nearest whole dollar.

References

$\backslash$table$[[$FORTUNE$,$ INCORPORATED,$],[$Budgeted Income Statement,,$],[$For Quarter Ended March $31,,],[,,],[$Selling$,$ general and administrative expenses,,