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Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced $6,950$ rackets and sold $5,380.$ Each racket was sold at a price of $$90.$ Fixed overhead costs are $$90,350$ per year, and fixed selling and administrative costs are $$67,200$ per year. The company also reports the following per unit variable costs for the year.

Prepare an income statement under variable costing.

$\backslash$table$[[$ACES INCORPORATED$],[$Sales$,,],[$Less: Variable expenses,,$],[,484,200,],[,,],[,,],[,,],[,,],[,,],[,,]]$