On July 31, the end of the first month of operations, Rhys Company prepared the following income statement, based on the absorption costing concept: Sales (84,000 units) $3,717,000 Cost of goods sold: Cost of goods manufactured $2,520,000 Less ending inventory (21,000 units) 504,000 Cost of goods sold 2,016,000 Gross profit $1,701,000 Selling and administrative expenses 220,500 Income from operations $1,480,500 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $94,500 and the variable selling and administrative expenses were $88,200. Round your answers to the nearest dollar.