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		$7.88
Direct labor		$3.62
Variable manufacturing overhead		$6.09
Variable selling and administrative expenses		$4.10
Fixed Costs per Year
Fixed manufacturing overhead		$244,590
Fixed selling and administrative expenses		$220,605

Siren Company sells the fishing lures for $26.25. During 2017, the company sold 81,000 lures and produced 93,000 lures.

1.) 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).)