Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,100 rackets and sold 4,000. Each racket was sold at a price of $81. Fixed overhead costs are $61710 and fixed selling and administrative costs are $64,300. The company also reports the following per unit variable costs for the year $24.10 VarLable product costs Variable selling and administrative expenses Prepare an income statement under absorption costing. ACES INC Absorption Costing Income Statement Selling general and administrative expenses VOI LOURC DELL GI GUNSLI O CAPES Prepare an income statement under absorption costing. ACES INC. Absorption Costing Income Statement JI 11 Selling general and administrative expenses Net income (loss)