Prepare an absorption costing income statement for the quarter ending March Hillyard Company Income Statement For the Quarter Ended March 31 Sales $1,330,000 Cost of goods sold: Beginning inventory Purchases Goods available for sale Ending inventory Gross margin 61,050 769,200 830,250 32,250 798,000 532,000 elling and administrative expenses: Salaries and wages Advertising Shipping Depreciation Other expenses 111,000 177,000 66,500 45,620 39,900 This is a numeric cell, so please enter numbers only. Net operating income Interest expense 91,980