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 (10,200 units) $469,200 Variable cost of goods sold: Variable cost of goods manufactured $216,000 Inventory, March 31 (1,800 units) (32,400) Total variable cost of goods sold 183,600 Manufacturing margin $285,600 Variable selling and administrative expenses 122,400 Contribution margin $163,200 Fixed costs: Fixed manufacturing costs $49,000 Fixed selling and administrative expenses 30,600 Total fixed costs 78,600 Income from operations 584,600 469,200 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 Sales Cost of goods sold: Cost of goods manufactured 264,000 Inventory, March 31 Total cost of goods sold Gross profit Selling and administrative expenses Income from operations