Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($30 per unit) $ 1,200,000 Variable expenses: Variable cost of goods sold 720,000 Variable selling expense 160,000 Total variable expenses 880,000 Contribution margin 320,000 Fixed expenses: Manufacturing 140,000 Selling and administrative 35,000 Total fixed expenses 175,000 Net operating income $ 145,000 During November, 35,000 units were manufactured and 8,000 units were in beginning inventory. Variable production costs per unit, total fixed manufacturing expenses, and the number of units produced were the same in prior months. Under absorption costing, for November the company would report a: Multiple Choice $145,000 profit $125,000 profit $125,000 loss $120,000 profit