Oak Mart, a producer of solid oak tables, reports the following data from its first year of business.

Sales price per unit $ $320$ per unit

Units produced this year $117,000$ units

Units sold this year $117,000$ units

Variable selling and administrative expenses $ $12$ per unit

Fixed selling and administrative expenses $ $4,600,000$ per year

Direct materials $ $40$ per unit

Direct labor $ $62$ per unit

Variable overhead $ $28$ per unit

Fixed overhead $ $7,020,000$ per year

$2.$ Prepare the current year income statement using absorption costing.