Asian Windows manufactures a hand-painted bamboo window shade for standard-size windows. Production and sales data for 2020 are as follows: Variable manufacturing costs $40 per shade Fixed manufacturing costs $100,000 Variable selling and administrative expenses $9 per shade Fixed selling and administrative expenses $250,000 Selling price $90 per shade Units produced 10,000 shades Units sold 8,500 shades Prepare an income statement using absorption costing. [5 marks]