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Required information

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Oak Mart, a producer of solid oak tables, reports the following data from its first year of business.

$\backslash$table$[[$Sales price per unit,$$320$ per unit$],[$Units produced this year,$117,000$ units$],[$Units sold this year,$117,000$ units$],[$Variable selling and administrative expenses,$$12$ per unit$],[$Fixed selling and administrative expenses,$$4,600,000$ per year$],[$Direct materials,$$40$ per unit$],[$Direct labor,$$62$ per unit$],[$Variable overhead,$$28$ per unit$],[$Fixed overhead,$$7,020,000$ per year$]]$

Prepare the current year income statement using absorption costing.

$\backslash$table$[[$OAK MART$],[$Sales$,$$