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 Units produced this year Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direct materials Direct labor Variable overhead Fixed overhead $ 370 per unit 126,000 units 126,000 units $ 22 per unit $ 4,650,000 per year $ 50 per unit $ 72 per unit $ 38 per unit $ 8,694,000 per year 2. Prepare the current-year income statement using absorption costing. Answer is complete but not entirely correct. OAK MART Income Statement (Absorption Costing) $ Sales 46,620,000 28,854,000 0 X Cost of goods sold Gross profit Selling and administrative expenses Income 7,422,000 10,344,000 $