Sheridan Company sells its product for $10900 per unit. Variable costs per unit are: manufacturing, $6500; and selling and administrative, $135. Fixed costs are: $50400 manufacturing overhead, and $60400 selling and administrative. There was no beginning inventory at 1/1/20. Production was 36 units per year in 20202022. Sales were 36 units in 2020, 32 units in 2021, and 40 units in 2022. Income under absorption costing for 2022 is

$54200.

$54780.

$48280.

$59800.