Succulent Juice Corporation manufactures and sells premium tomato juice by the gallon. Succulent just finished its first year of operations. The following data relates to this first year: Number of gallons produced 75,000 Number of gallons sold 70,000 Selling price $ 3.00 per gallon Unit product cost under variable costing $1.45 per gallon Total contribution margin $ 84,000 Total fixed manufacturing overhead cost $ 63,000 Total fixed selling & administrative expense $ 10,500 Required: Using absorption costing, prepare Succulent Juice Corporation's income statement for the year