QS $21-26$B $($Algo$)$ Absorption costing income statement LO P$4$

Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced $5,800$ rackets and sold $4,700.$ Each racket was sold at a price of $$88.$ Fixed overhead costs are $$74,240$ for the year, and fixed selling and administrative costs are $$65,000$ for the year. The company also reports the following per unit variable costs for the year:

$\backslash$table$[[$Direct materials,$$11\mathrm{.}94$