The Garrison City Company uses an absorption costing system based on standard costs. Variable manufacturing cost consists of direct material cost of $4.00 per unit and other variable manufacturing costs of $1.00 per unit. The standard production rate is 10 units per machine hour. Total budgeted and actual fixed manufacturing overhead costs are $560,000. Fixed manufacturing overhead is allocated at 58 per machine-hour based on fixed manufacturing costs of $560,000/70,000 machine-hours, which is the level Garrison City uses as its denominator level. The selling price is $11 per unit. Variable operating (non-manufacturing) cost, which is driven by units sold, is $2 per unit. Fixed operating (non-manufacturing) costs are $55,000. Beginning inventory in 2022 is 25,000 units, ending inventory is 45.000 units. Sales in 2022 are 015,000 units. The same standard unit costs persisted throughout 2021 and 2022. For simplicity, assume that there are no price, spending, or efficiency variances (Click the icon to view the variable costing income statement.) Requirement 1. Prepare an income statement under throughput costing for the year ended December 31, 2022, for Gamson City Company Complete the top half of the income statement first, and then complete the bottom portion. (Use parentheses or a minus sign for an operating loss.) Revenues Direct material cost of goods sold Beginning inventory Throughput Costing Direct materials in goods manufactured Cost of goods available for sale Deduct ending invertory Total direct material cost of goods sold Throughput margin