Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 6,600 rackets and sold 5,500. Each racket was sold at a price of $96. Fixed overhead costs are $89,760 and fixed selling and administrative costs are $65,800. The company also reports the following per unit varlable costs for the year: variable product costs variable selling and administrative expenses $25.60 s2.6e Prepare an Income statement under absorption costing. ACES INC. Absorption Costing Income Statement Selling general and administrative expenses Net income (loss)