the following data were taken from the records of griggs company for december 2014:

administrative expenses 100,800

cost of goods sold 550,000

direct materials price variance - unfavorable 1,680

direct materials quantity variance - favorable 560

direct labor rate variance- favorable 1,120

direct labor time variance 490

variable factory overhead controllable variance- favorable 210

fixed factory overhead volume varaince - unfavorable 3080

interest expense 2940

sales 868,000

selling expenses 125,000

prepare an income statement for presentation to management.