Assistance with preparing an income statement under Absorption Costing Income Statement for ACES Inc.

Quick Study 19-4 Absorption costing income statement LO P2 Aces Inc, a manufacturer of tennis rackets, began operations this year. The company produced 6,000 rackets and sold 4,000. Each racket was sold at a price of $90. Fixed oyerhead costs are $?8,000 and fixed selling and administrative costs are $65,200. The company also reports the following per unit costs for the year Variable production costs $ 25.00 Variable selling and administrative expenses 33 2.00 Required: Prepare an income statement under absorption costing. i i-i i-i - _i' i_- _ i-i i-i I:i-i Net income {loss}