Absorption Costing Income Statement For the Month Ended June 30, 2016 1Sales (28,000 units) 3,920,000.00 Cost of goods sold: Cost of goods manufactured (32,600 units) Less ending inventory (4600 units) Cost of goods sold Gross Profit Selling and administrative expenses Income frem operatione 2,608,000.00 4 | 368,000.00 240,000.00 1,680,000.00 175,00000 $1,505,00000 Ir the fixed manufacturing costs were $260,800 and the variable selling and administrative expenses were $140,000 prepare an income statement according to the variable costing concept. 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. "Less" "Plus" or colons (:) will automatically appear if required. If a net loss is incurred, enter that amount as a negative number using a minus sign