Any help is greatly appreciated!!

Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the company produced 1,000 kayaks and sold 750. at a price of $1,000 each. At this first year-end, the company reported the following income statement information using absorption costing Sales (750 $1,000) Cost of goods sold (750 $475) S 750,000 356,250 Gross margin Selling and administrative expenses 393,750 230,000 Net income 163,750 Additional Information a. Production cost per kayak totals $475, which consists of $375 in variable production cost and $100 in fixed production cost-the latter amount is based on $100,000 of fixed production costs allocated to the 1,000 kayaks produced. b. The $230,000 in selling and administrative expense consists of $105,000 that is variable and $125,000 that is fixed. Required 1. Prepare an income statement for the current year under variable costing KENZI KAYAKING Variable Costing Income Statement Net income (loss Fixed costs added to inventory Ask me anything