1 Sales (2,600 units) 2 Cost of goods sold: 3 Cost of goods manufactured Morristown & Co. Absorption Costing Income Statement 4 Less ending inventory (400 units) 5 Cost of goods sold 6 Gross profit For Month Ended October 31, 20-- 7 Selling and administrative expenses 8 Income from operations $85,500.00 11,400.00 $117,000.00 74,100.00 $42,900.00 21,500.00 $21,400.00 If the fixed manufacturing costs were $42,900 and the variable selling and administrative expenses were $14,600, prepare an income statement using variable costing. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon (:) will automatically appear if it is required. If a net loss is incurred, enter that amount as a negative number using a minus sign.