Windsor Manufacturing produces towels to be sold as souvenirs at sporting events throughout the world. Assume that units produced equalled units sold in 2022. The company's variable-costing income statement and other data are as follows: WINDSORMANUFACTURING Income Statement Year Ended December 31, 2022 Variable Costing Sales (261.800 units) $562,870 Variable cost of goods sold $261,800 Variable selling expenses 26,180 Variable administrative expenses 36,652 324,632 Contribution margin 238,238 Fixed manufacturing overhead 104,720 Fixed selling expenses 37,500 Fixed administrative expenses 42,800 185,020 Net income $53,218