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 first year of business. 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 5 40 per unit Direct labor S 62 per unit Variable overhead S 28 per unit Fixed overhead $ 7,020,000 per year 2. Prepare the current year income statement using absorption costing.