Use the information provided below to prepare the Income Statement of Revlon Enterprises for the year ended 31 December 2022 using the following methods:

2.1 Marginal costing

2.2 Absorption costing INFORMATION The following information relates to the only product produced by Revlon Enterprises during 2022:

Opening inventory Nil

Number of units manufactured 5 000

Number of units sold 4 500

Selling price per unit R200

Direct material cost per unit R14

Direct labour cost per unit R23

Variable manufacturing overheads cost per unit R12

Variable selling and administrative cost per unit sold R3

Fixed manufacturing overhead cost R200 000

Fixed selling and administrative costs R400 000