“I” (‘3)Your answer is partially correct. Try again. Prepare an absorption-costing income statement for the first month of operation. Fresh Air Products Income Statement-Absorption CostingFor the first month of operations Sales ¢ 990000Cost of goods sold ¢ 1} Beginning inventory $– Costs of goods manufactured ¢ 450000Goods available for sale ¢ 450000- Ending inventory ¢ 45000 405000— 585000 4} Gross margin I! [ Less ¢ Selling and administrative expenses ¢ I! Operating income before tax ¢