Summarized data for Walrus Co, for its first year of operations are: $4,500,000 $1,850,000 $1,250,000 Sales (100,000 units) Production costs (120,000 units) Direct Materials Direct Labor Manufacturing overhead Variable Fixed Selling and administrative expenses Variable Fixed 5900,000 $300,000 $250,000 $430,000 A. Prepare an income statement under absorption costing. Round to the nearest dollar. Sales Cost of Goods Sold Direct Materials 5 Direct Labor $ Variable Overhead Fixed overhead Cost of goods available for sale Ending Inventory Save All Anw Save and Submit Click Save and Submitte suve and bent. Check Stres to alfontos A. Prepare an income statement under absorption costing. Round to the nearest dollar. Sales Cost of Goods Sold Direct Materials Direct Labor Variable Overhead Fixed overhead Cost of goods available for sale Ending Inventory Cost of Goods Sold Gross Profit Selling and Administrative Expenses 5 Net Income S 5 $ 4 poi CTION