Prepare an income statement under absorption costing.

I have been trying different numbers but I don't see my mistake.

Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,400 rackets and sold 4,300. Each racket was sold at a price of $84. Fixed overhead costs are $66,960, and fixed selling and administrative costs are $64,600. The company also reports the following per unit variable costs for the year. Variable product costs Variable selling and administrative expenses $24.40 $ 1.40 Prepare an income statement under absorption costing. Answer is complete but not entirely correct. ACES INC Absorption Costing Income Statement Sales $361,200 Less Cost of goods sold Variable production costs Os 104,920 Fixed overhead costs 6,020 OOOO > 110.940 250 260 > Cost of goods sold Contribution margin Selling general and administrative expenses Fixed overhead costs Fixed selling and administrative costs X 66.960 64,600 Totalfixed expenses Net income oss) 131,560 $ 118,700 Prepare an income statement under absorption costing. * Answer is complete but not entirely correct. ACES INC. Absorption Costing Income Statement Sales $ 361,200 Less: Cost of goods sold Variable production costs Fixed overhead costs $ 104,920 6,020 X 110,940 250,260 x Cost of goods sold Contribution margin Selling general and administrative expenses Fixed overhead costs Fixed selling and administrative costs 66,960 64,600 Total fixed expenses Net income (loss) 131,560 $ 118,700 X