Cool Sky reports the following for its first year of operations. The company produced $44,000$ units and sold $36,000$ units at a price of $$110$ per unit.

$\backslash$table$[[$Direct materials,$$42$ per unit$],[$Direct labor,$$16$ per unit$],[$Variable overhead,$$5$ per unit$],[$Fixed overhead,$$396,000$ per year$],[$Variable selling and administrative expenses,$$9$ per unit$],[$Fixed selling and administrative expenses,$$120,000$ per year$]]$

Exercise $19-3($Algo$)$ Part $2$b

$2$b$.$ Assume the company uses variable costing. Prepare its income statement for the year under variable costing.

Answer is not complete.