Income Statement on June 30, the end of the first month of operations, Haman Company prepared the following Income statement, based on the absorption costing concept: Haman Company, tion Costing Income Statement 1,209,600 Cost of goods sold: $1,008,000 144,000 Less inventory, June 30 (2,400 units) Cost of goods sold... Gross profit. Selling and administrative expenses . . . . Income from operations 864,000 $ 345,600 23,120 $ 222,480 .. Assume the fixed manufacturing costs were $75,600 and the variable selling and administrative expenses were $68,400