Hayek Bikes prepares the income statement under variable costing for its managerial reports, and it prepares the income statement under absorption costing for external reporting. For its first month of operations, 375 bikes were produced and 225 were sold; this left 150 bikes in ending inventory. The income statement information under variable costing follows.

Sales (225 $1,650)	$	371,250
Variable production cost (225 $675)		151,875
Variable selling and administrative expenses (225 $55)		12,375
Contribution margin		207,000
Fixed overhead cost		60,000
Fixed selling and administrative expense		90,000
Net income	$	57,000

1. Prepare this company's income operations statement for its first month under absorption costing operations. (Round your intermediate calculations to the nearest whole dollar).