Aces Inc, a manufacturer of tennis rackets, began operations this year. The company produced 5,400 rackets and sold 4,300. Each racket was sold at a price of $84. Fixed overhead costs are $66,960, and fixed selling and administrative costs are $64600. The company also reports the following per unit variable costs for the year: $24.de Variable product costs Variable selling and adeinistrative expenses Prepare an income statement under absorption costing. ACES INC. Absorption Conting Income Statement Seling general and administrative expenses Net income loss