Baxtell Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations During the year, the company produced 27,800 units and sold 22,600 units. The selling price of the company's product is $90 per unit. Required: 1. Assume that the company uses absorption costing. b. Prepare an income statement for the year. (Do not leave any empty spaces: input o 0 wherever it is required.) b. Prepare an income statement for the year. (Do not leqve any empty spoces: iriput a 0 wherever it is required.)