Trebowski Company Prepared the Following Absorption-Costing Income Statement for the First

Trebowski Company prepared the following absorption-costing income statement for the first year of operations.The income statement is for the fiscal year ended May 31,2015:
$\begin{array}{ll}\text { Sales (16,000 units) }&\$320,000\\\text { Cost of Goods Sold }&216,000\\\text { Gross Margin } & 104,000 \\\text { Selling and administrative expenses } & 46,000 \\\text { Operating income }&\$58,000\end{array}$
Additional data follow:
$$\begin{array} { l l } \text { Variable selling and administrative expenses } & \$ 1.50 \text { per unit } \\\text { Variable manufacturing costs } & \$ 11.00 \text { per unit } \\\text { Direct materials inventory, May 31,2015 } & 0 \\\text { Work-in-process inventory, May 31, 2015 } & 0 \\\text { Units produced } & 17,500 \text { units } \\\text { Units expected to be produced } & 17,500 \text { units }\end{array}$$
Required:
Assume actual fixed costs were equal to budgeted fixed costs.Prepare a variable-costing income statement for the year ended May 31,2015.