Rey Company's single product sells at a price of S233 per unit. Data for its single product for its first year of operations follow. Direct materials 37 per unit Direct labor 45 per unit Overhead costs Variable overhead 7 per unit Fixed overhead per year 225,000 per year Selling and administrative expenses Variable 35 per unit Fixed 234,000 per year Units produced and sold 25,000 units 1. Prepare an income statement for the year using absorption costing REY COMPANY Absorption Costing Income Statement Net income (loss)