Summarized data for 2016 (the first year of operations) for Trenton Products, Inc., are as follows: Sales (200,000 units) $16,000,000 Production costs (210,000 units) Direct material 4,200,000 Direct labor 3,360,000 Manufacturing overhead: Variable 2,520,000 Fixed 2,100,000 Operating expenses: Variable 1,120,000 Fixed 1,280,000

a. Prepare an income statement based on full absorption costing. Only use a negative sign with your answer for net income (loss), if the answer represents a net loss. Otherwise, do not use negative signs with any answers. Round answers to the nearest whole number, when applicable.