Hayek Bikes prepares the income statement under variable costing for its managerial reports, and it prepares the income statement under absorption costing for external reporting. For its first month of operations, 375 bikes were produced and 225 were sold; this left 150 bikes in ending inventory. The income statement information under variable costing follows. Sales (225 x $1,625) Variable product cost (225 x $625) Variable selling and administrative expenses (225 x $65) Contribution margin Fixed overhead cost Fixed selling and administrative expense Net income $ 365,625 140,625 14,625 210,375 56,250 75,000 $ 79,125 1. Prepare this company's income statement for its first month of operations under absorption costing. Round your intermediate calculations to the nearest whole dollar.) HAYEK BIKES Absorption Costing Income Statement Sales Less: Variable costs Fixed overhead costs Gross margin Net income (loss) 89 90 Number of units added to(subtracted from) inventory Fixed overhead cost per unit Fixed costs added to inventory ...810