Cougar inc. began operations on January 1, 2016 and incurred the following costs for the production of 10,000 units: Variable mfg./ unit $9 Fixed mfg. overhead $60,000 Variable selling and admin. / unit $2 Fixed selling and admin. $220,000 Each unit sells for $45 and 8,500 units were sold. Compute net income (loss) using absorption costing. $15,000 or $9,000 or $(7,500) or $18,000