Variable and Absorption Costing The following data were adapted from a recent income statement of Ansara Company for the year ended December 31 : Assume that $4,840 million of cost of goods sold and $1,100 million of selling, administrative, and other expenses were fixed costs. Inventories at the beginning and end of the year were as follows: Also, assume that 30% of the beginning and ending inventories were fixed costs. a. Prepare an Income statement according to the variable costing concept for Ansara Company. Round numbers to nearest million. a. Prepare an income statement according to the variable costing concept for Ansara Company. Round numbers to nearest million