Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,200 rackets and sold 4,100. Each racket was sold at a price of $82. Fixed overhead costs are $63,440, and fixed selling and administrative costs are $64,400. The company also reports the following per unit variable costs for the year:

Variable product costs	$	24.20
Variable selling and administrative expenses	$	1.20

Prepare an income statement under variable costing.

Q Ameanue ie wnt mawnlak