Using the information provided below, determine the budgeted revenue and expense items for your company for 2022.

The company's annual income statement for 2021, which is used as a basis for preparing the 2022 budget, is below (shown in thousands):

Company's Annual Income Statement For the year 2021 Revenues Equipment Maintenance contracts Total Revenues Cost of goods sold Gross margin Operating costs Marketing Distribution Customer Maintenance Administration $ 8,000,000 1,900,000 $ 9,900,000 4,000,000 5,900,000 630,000 100,000 1,100,000 920,000 2,750,000 $ 3,150,000 Total Operating Costs Operating income Additional information to be used in preparing the budget for 2022 are as follows: 1. Selling prices of equipment are expected to increase by 10% as the economic recovery begins. The selling price of each maintenance contract is expected to remain unchanged from 2021. 2. Equipment sales in units are expected to increase by 6%, with a corresponding 6% growth in units of maintenance contracts. 3. Cost of each unit sold is expected to increase by 5% to pay for the necessary technology and quality improvements.