The data given below pertains to the operations of the Newton Products Corporation for the year ended December 31, 2019.

Sales:	3,100	units at	$	53	a unit
Variable manufacturing costs:	3,200	units at	$	29	a unit
Variable selling and admin. expenses:			$	5	a unit
Fixed manufacturing costs:			$	24,000
Fixed selling and admin. expenses:			$	16,000
Finished goods inventory, Jan. 1, 2019:				500	units
Finished goods inventory, December 31, 2019:				600	units

Based on the information given prepare an income statement for the year using the direct costing approach. Assume that the beginning and ending finished goods inventory have a cost of $29 per unit. (Input all amounts as positive values.)