The Hame Company manufactures trendy, good-looking, moderately priced umbrellas. The following data are for the year ended December 31, 2028: Beginning inventory, January 1, 2020 100,000 unit 50.000 Ending inventory, December 31, 2020 2020 Sales Selling price 400,000 $25 per Variable manufacturing cost per unit, including direct materials $6 per unit Variable selling & admin cost per unit sold $2 per unit sold Fixed manufacturing costs $1,625,000 Fixed selling & admin costs $1,100,000 Assume standard costs per unit are the same for units in beginning inventory and units produced during the year. Also, assume no price, spending, or efficiency variances Prepare income statement under variable costing for the year ended December 31, 2020. albar press ALT+F10 (PC) or ALT+FN+F10 (Mac) Activate Wi Required: A