Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,000 rackets and sold 3,900. Each racket was sold at a price of $80. Fixed overhead costs are $60,000 and fixed selling and administrative costs are $64,200. The company also reports the following per unit costs for the year: Variable product costs Variable selling and administrative exnses 1.00 $ 24.00 Prepare an income statement under variable costing. ACES ING Variable Costing Income Statement Net income (loss)