Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs.

Variable Costs per Unit
Direct materials	$8.10
Direct labor	$3.73
Variable manufacturing overhead	$6.26
Variable selling and administrative expenses	$4.21
Fixed Costs per Year
Fixed manufacturing overhead	$253,800
Fixed selling and administrative expenses	$226,908

Siren Company sells the fishing lures for $27.00. During 2017, the company sold80,000lures and produced94,000lures.

Q)Prepare an absorption costing income statement for 2017.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)