Read, Inc. manufactures books. Last month they produced 12,000 books and sold 10,000 books. Operating data for the month of July is as follows.

Sales	$900,000
Variable Manufacturing Costs	720,000
Fixed Manufacturing Costs	120,000
Variable Operating Expenses	60,000
Fixed Operating Expenses	48,000

Prepare an Income Statement using Absorption Costing

Do not use dollar signs, commas, or negative numbers.

Read, Inc.
Operating Income Statement-Absorption Costing
July 31, 2019

Sales
Cost of Goods Sold
Variable Manufacturing Costs
Fixed Manufacturing Costs
Total Manufacturing Costs
Ending Inventory
Cost of Goods Sold
Gross Profit
Operating Expenses
Variable Operating Expenses
Fixed Operating Expenses
Total Operating Expenses
Operating Profit