Mason Cabinet Company sells standard kitchen cabinets. The following information summarizes Mason's operating activities for the year: Selling and Administrative Expenses Purchases Sales Revenue Merchandise Inventory, January 1, 2022 Merchandise Inventory, December 31, 2022 $42,750 85,700 154,500 12,500 16,200 Mason sold 950 cabinets during the year. Calculate the operating income for the year by preparing the income statement. Compute the unit cost for one cabinet (Round to two decimal places.)

Mason Cabinet Company sells standard kitchen cabinets. The following information summarizes Mason's operating activities for the year