Concord Corporation's absorption coating system generated the following income statement for the year justended, where itrecognized no standard cost var lances. Sales $20,350 COGS 12,950 Gross margin 7400 Operating expenses 5,360 Operating income $1,020 Concord sold 3,700 units this year after producing 3,901 Its variable operating cost is $160 per unit while its variable manufacturing cost is $175 per unit If management would like to see the same period's income statement recastunder variable costing. what would that look like? Listvadable expenses before fired expenses. Concord Corporation Varlable Costing Income Statement Sales 20.350 Less V Yar la ble Expenses V Y anufactur Ing 6825 LOGS 2220 Cont Ibutin Margin Less Flyed Expenses V Flyed Expenses Operating Expenses Operating Income