[The following information applies to the questions displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. Sales price per unit $360 per unit Units produced this year 124,000 units Units sold this year 124,000 units Variable selling and administrative expenses $20 per unit Fixed selling and administrative expenses $4,640,000 per year Direct materials $48 per unit Direct labor $70 per unit Variable overhead $36 per unit Fixed overhead $8,308,000 per year Prepare the current-year income statement using absorption costing. OAK MART Income Statement (Absorption Costing)