Absorption Costing Income Statement On March 31, the end of the first month of operations, Sullivan Equipment Company prepared the following income statement, based on the variable costing concept: Sullivan Equipment Company Variable Costing Income Statement For the Month Ended March 31 Sales (9,200 units) $570,400 Variable cost of goods sold: Variable cost of goods manufactured Inventory, March 31 (2,500 units) Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin $292,500 (62,500) 230,000 $340,400 147,200 $193,200 Fixed costs: Fixed manufacturing costs $58,500 Fixed selling and administrative expenses 36,800 Total fixed costs 95,300 Income from operations $97,900 Prepare an income statement under absorption costing. Round all final answers to whole dollars. Sullivan Equipment Company Absorption Costing Income Statement For the Month Ended March 31 570,400 Cost of goods sold: B