Sunland Equipment Company manufactures and distributes industrial air compressors. The following data are available for the year ended December 31, 2022. The company had no beginning inventory. In 2022, it produced 1,400 units but sold only 1,180 units. The unit selling price was $4,440. Costs and expenses were as follows: Variable costs per unit Direct materials $790 Direct labour 1,320 Variable manufacturing overhead 240 Variable selling and administrative expenses 65 Annual fixed costs and expenses Fixed manufacturing overhead $1,194,200 Selling and administrative expenses 102,100 Prepare a 2022 income statement for Sunland Company using variable costing. SUNLANDEQUIPMENT COMPANY Income Statement For the Year-Ended December 31, 2022 Variable Costing Sales $ 5239200 Less Variable costs Variable selling and administrative expenses $ Contribution margin Less Fixed manufacturing overhead Total fixed costs $