Proctoring Enabled: OOC MGMT8500 Midterm Exam-T 10 Seved 15 Discon Corporation manufactures a popular doll called Teardrops. Last year the company started with 11,000 dolls, produced 255,000 dolls, and ended the year with 9,000 dolls. Each doll was sold for $23. The actual unit cost for Teardrops is given below. 2025442 Direct material Direct labour variable overhead Fixed overhead Total unit cost. $3.00 0.80 3.50 8.20 $15.50 The only selling expenses were a commission of $3 per unit sold and advertising amounting to $360,000. Administrative expenses, all fixed, equalled $280,000. There were no beginning and ending work-in-process inventories. Required: 1. Prepare an income statement. Discon Corporation Income Statement For the Year Ended December 31, XXXX Seling and administrative expenses Help Seve & Exit