Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 6,100 rackets and sold 5,000. Each racket was sold at a price of $91. Fixed overhead costs are $79,910 for the year, and fixed selling and administrative costs are $65,300 for the year. The company also reports the following per unit variable costs for the year.

Direct materials	$ 12.03
Direct labor	8.03
Variable overhead	5.04
Variable selling and administrative expenses	2.10

Required: Prepare an income statement under variable costing.