ber 31, the end of the first month of operations, Carswell & Co. income statement based on absorption costing prepared the following Carswell&Co Income Statement For Month Ended October 31.20 Sales (2,600 units) Cost of goods sold: Cost of goods manufactured Less ending inventory (400 units) Cost of goods sold Gross profit Selling and administrative expenses Income from operations $104,000 $85,500 S 29,900 21.500 8,400 If the fixed manufacturing costs were $42,000 and the variable selling and admin encept. were S15,600, prepare an income statement in accordance ministrative expenses with the variable costing