On October 31, the end of the first month of operations, Morristown & Co. prepared the following income statement based on absorption costing:

Morristown & Co. Income Statement For Month Ended October 31, 20-
Sales (2,600 units)		$104,000
Cost of goods sold:
Cost of goods manufactured	$85,500
Less ending inventory (400 units)	11,400
Cost of goods sold		74,100
Gross profit		$ 29,900
Selling and administrative expenses		21,500
Income from operations		$ 8,400
		========

If the fixed manufacturing costs were $42,900 and the variable selling and administrative expenses were $14,600, prepare an income statement in accordance with the variable costing concept.