Variable and Absorption Costing-Service Company Jensen's Tailoring provides custom tailoring services. After the company's first year of operations, its owner prepared the following summarized data report for 2016: Sales (500 completed jobs) Tailoring costs (550 jobs) Direct labor Manufacturing overhead $100,000 47,000 Variable 12,000 Fixed 9,000 Operating expenses Variable 5,600 Fixed 5,800 a. Prepare an income statement based on full absorption costing. Only use a negative sign with your answer for net income (loss), if the answer represents a net loss. Otherwise, do not use negative signs with any answers. Round answers to the nearest whole number, when applicable