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, 400 bikes were produced and 240 were sold; this left 160 bikes in ending inventory. The income statement information under variable costing follows.

Sales (240 $1,800)	$	432,000
Variable product cost (240 $650)		156,000
Variable selling and administrative expenses (240 $60)		14,400
Contribution margin		261,600
Fixed overhead cost		60,000
Fixed selling and administrative expense		80,000
Net income	$	121,600

Prepare an income statement for the current year under absorption costing. KENZI KAYAKING Absorption Costing Income Statement Sales Net income (loss) Fixed costs added to inventory Complete this question by entering your answers in the tabs below. Required 1 Required 2 Fill in the blanks: The dollar difference in variable costing income and absorption costing income = units fixed overhead per unit