b$.$ Prepare an income statement according to the variable costing concept.

Gallatin County Motors Inc.

Variable Costing Income Statement

For the Month Ended July $31$

$\backslash$table$[[\frac{\text{S}\text{a}\text{l}\text{e}\text{s}}{\frac{\text{V}\text{a}\text{r}\text{i}\text{a}\text{b}\text{l}\text{e}costof\text{g}\text{o}\text{o}\text{d}\text{s}\text{s}\text{o}\text{l}\text{d}}{\text{M}\text{a}\text{n}\text{u}\text{f}\text{a}\text{c}\text{t}\text{u}\text{r}\text{i}\text{n}\text{g}\text{m}\text{a}\text{r}\text{g}\text{i}\text{n}}},2,\frac{\text{\$}1\mathrm{.}665,000}{\text{\$}}$