Required information [The following information applies to the questions displayed below.] Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 7,150 rackets and sold 5,480. Each racket was sold at a price of $90. Fixed overhead costs are $92,950 per year, and fixed selling and administrative costs are $67,600 per year. The company also reports the following per unit variable costs for the year. Prepare an income statement under variable costing