Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,700 rackets and sold 4,600. Each racket was sold at a price of $87 Fixed overhead costs are $72,390, and fixed selling and administrative costs are $64,900. The company also reports the following per unit costs for the year: Variable production costs Variable selling and administrative expenses 24.70 $ 1.70 Required Prepare an income statement under variable costing. ACES INC. Variable Costing Income Statement Net income (loss)