Absorption Costing Income Statement On March 31, the end of the first month of operations, Sullivan Equipment Company prepared the statement, based on the variable costing concept: Sullivan Equipment Company Variable Costing Income Statement For the Month Ended March 31 Sales (12,100 units) $653,400 Variable cost of goods sold: Variable cost of goods manufactured Inventory, March 31 (2,200 units) Total variable cost of goods sold 266,200 Manufacturing margin $387,200 Variable selling and administrative expenses 169,400 Contribution margin. $217,800 Fixed costs: Fixed manufacturing costs $57,200 Fixed selling and administrative expenses 48,400 Total fixed costs 105,600. $112,200 Income from operations Prepare an income statement under absorption costing. Round all final answers to whole dollars. Sullivan Equipment Company Obcorption Costing Income Statement $314,600 (48,400) shoplif... central N er 6 HW tal variable cost of goods sold 266,200 anufacturing margin $387,200 ariable selling and administrative expenses 169,400 Contribution margin $217,800 Fixed costs: Fixed manufacturing costs $57,200 Fixed selling and administrative expenses 48,400 Total fixed costs 105,600 Income from operations $112,200 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 Cost of goods sold