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Required information

Use the following Information for the Quick Study below. $($Algo$)$

$[$The following infometion applies to the questions disployed below$].]$

Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced $7,950$ rackets and sold $5,880.$ Each racket was sold at a price of $$90.$ Fixed overhead costs are $$103,350$ per year, and fixed selling and administrative costs are $$69,200$ per year. The company also reports the following per unt variable costs for the year

QS $19-6($Algo$)$ Absorption costing Income statement LO P$2$

Prepore an income stotement under absorpton costing.

Answer is complete but not entirely correct.

$\backslash$table$[[$ACES INCORPORATED$],[$income stafoment $($A$,$Ing$),],[$Soter:$,(2)$:$,529\mathrm{.}200],[$Con af goods sold,$6,223,4400],[$Erost proft,$9,305,760],[$Selling are adrinistrotiwe axporfes,$0,11,7606],[$Intame$,$Q$15,254,000]]$