--- UUPLOI CUOLIUS. A. Income from operations, $15,288 EX 20-7 Variable costing income statement Obj. 1 The following data were adapted from a recent income statement of Procter & Gamble Company: (in millions) $83,062 REAL WORLD Sales ........... Operating costs: Cost of products sold..... Marketing, administrative, and other expenses........... Total operating costs......... Income from operations .......... $42,460 25,314 $67,774 $15,288 Chapter 20 Variable Costing for Management Analysis Assume that the variable amount of each category of operating costs is a escritong) Cost of products sold......... $23,778 Marketing, administrative, and other expenses ............ 10,125 A. Based on the data given, prepare a variable costing income statement for Procter & Gamble Company, assuming that the company maintained constant inventory levels during the period. If Procter & Gamble reduced its inventories during the period, what impact would that have on the income from operations determined under absorption costing