4 (14 points) Home Base, Inc. reports the following production cost information for its first period of operations: Units produced 97,000 units Units sold 92,000 units Unit sales price $160 per unit Manufacturing cost totals: Direct materials $3,298,000 per unit Direct labor $1,649,000 Variable overhead $2,522,000 Fixed overhead $1,940,000 Selling and administrative expense totals: Variable $650,000 Fixed $825,000 (A) Prepare the income statement using the absorption costing concept. Problem continued on following page Page 14