Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 6,000 rackets and sold 4,900. Each racket was sold at a price of \(\$ 90\). Fixed overhead costs are \(\$ 78,000\) per year, and fixed selling and administrative costs are \(\$ 65,200\) per year. The company also reports the following per unit variable costs for the year. Prepare an income statement under absorption costing.

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Direct materials... Direct labor....... Variable overhead .... Variable selling and administrative expenses. $12 8 5 2