Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5,800 rackets and sold 4,700 . Each racket was sold at a price of $88. Fixed overhead costs are $74,240 for the year, and fixed selling and administrative costs are $65,000 for the year. The company also reports the following per unit variable costs for the year. Required: Prepare an income statement under variable costing