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

Morristown & Co.
Absorption Costing Income Statement
For Month Ended October 31, 20--
Sales (2,600 units)				$117,000
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				$42,900
Selling and administrative expenses				21,500
Income from operations				$21,400

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

Morristown & Co.
Variable Costing Income Statement
For Month Ended October 31, 20--
		$
Variable cost of goods sold:
	$
		$
		$
Fixed costs:
	$
Income from operations		$