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 (12,600 units)			$655,200
Variable cost of goods sold:
Variable cost of goods manufactured	$308,700
Inventory, March 31 (2,100 units)	(44,100)
Total variable cost of goods sold			264,600
Manufacturing margin			$390,600
Variable selling and administrative expenses			176,400
Contribution margin			$214,200
Fixed costs:
Fixed manufacturing costs	$58,800
Fixed selling and administrative expenses	50,400
Total fixed costs			109,200
Income from operations			$105,000

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
Sales		$
Cost of goods sold:
Cost of goods manufactured	$
Inventory, March 31
Total cost of goods sold
Gross profit		$
Selling and administrative expenses
Income from operations		$