Trevor Company reports the variable costing income statement below for June. The company began the month with no finished goods inventory. It produced 14,000 units in June, and 4,000 units remain in ending finished goods inventory. $ 400,000 $ 272,000 55,000 Sales (10,000 units) Variable expenses Variable cost of goods sold Variable selling and administrative expenses Contribution margin Fixed expenses Fixed overhead Fixed selling and administrative expenses Income 327,000 73,000 11,200 30,000 41,200 $ 31,800 Prepare an income statement using absorption costing. Answer is complete but not entirely correct. TREVOR COMPANY Income Statement (Absorption Costing) $ Sales 400,000 0 Cost of goods sold Gross profit Selling and administrative expenses Income 400,000 85,000 315,000 $