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 (9,000 units) $414,000 Variable cost of goods sold: Variable cost of goods manufactured $194,400 Inventory, March 31 (1,800 units) (32,400) Total variable cost of goods sold 162,000 Manufacturing margin $252,000 Variable selling and administrative expenses 108,000 Contribution margin $144,000 Fixed costs: Fixed manufacturing costs $43,200 Fixed selling and administrative expenses 27,000 Total fixed costs 70,200 Income from operations $73,800 Prepare an income statement under absorption costing. Round all final answers to whole dollars