During $2022,$ Novak Corp. produced $47,340$ units and sold $47,340$ for $$14\mathrm{.}00$ per unit. Variable manufacturing costs were $$5\mathrm{.}00$ per unit. Annual fixed manufacturing overhead was $$94,680($$$2\mathrm{.}00$ per unit$).$ Variable selling and administrative costs were $$2\mathrm{.}00$ per unit sold, and fixed selling and administrative expenses were $$10,520.$ Suppose the accountant for Novak Corp. uses normal$-$absorption costing and uses the budgeted volume of $52,600$ units to allocate the fixed overhead rather than the actual production volume of $47,340$ units. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs. Prepare a normal$-$absorption$-$costing income statement for the first year of operation.