Trevor Company reports the variable costing income statement below for June. The company began the month with no finished goods inventory. It produced 10,000 units in June, and 2,000 units remain in ending finished goods inventory.

Sales (8,000 units)		$ 320,000
Variable expenses
Variable cost of goods sold	$ 225,000
Variable selling and administrative expenses	35,000	260,000
Contribution margin		60,000
Fixed expenses
Fixed overhead	8,000
Fixed selling and administrative expenses	12,000	20,000
Income		$ 40,000

Prepare an income statement using absorption costing.