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Ansara Company had the following abbreviated income statement for the year ended December 31, 20Y2...

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Accounting

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Ansara Company had the following abbreviated income statement for the year ended December 31, 20Y2 in millions) Sales Cost of goods sold Seling, administrative, and other expenses $18,89200 15,500.00 2003.00 17,503.00 1,389.00 4 5 Total expenses Income from operations costs and $1,156 milion fixed selling, administrative, and other costs for the year Assume that there were $3,806 million fixed manufacturing The finished goods inventories at the beginning and end of the year from the balance sheet were as follows January 1 $2,358 million December 31 $2,432 million Assume that 30% of the beginning and ending inventory consists of fixed costs. Assume work in process and materials inventory were Required: Prepare an income statement according to the variable costing concept for Ansara Company for 20Y2. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon ()wi appear if required Enter ending inventory as a negative number using a minus sign. If a net loss is incurred, enter that amount as

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