Required information The following information applies to the questions displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its second year of business Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs 330 per unit 115,000 units 118,250 units 3,250 units Variable (3,250 units x $135) Fixed (3,250 units x $80) Total $ 438,750 260,000 $ 698,750 Manufacturing costs this year Direct materials Direct labor Overhead costs this year 48 per unit 66 per unit Variable overhead Fixed overhead $3,200,000 $7,400,000 Selling and administrative costs this year Variable Fixed $1,500,000 4,600,000 2. Prepare the current year income statement for the company using absorption costing OAK MART COMPANY Absorption Costing Income Statement Beginning inventory Manufacturing costs this year Net income (loss)