2. Refer to Xylo above. The absorption costing income statement prepared by the company's accountant for last year appears below: Sales Cost of Goods Sold Gross Margin Selling & Admin Expense Net Operating Income $191,250 $157,500 $33,750 $24,500 $9,250 Required: A) Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period. B) Prepare an income statement for the year using variable costing. Explain the difference in net operating income between the two costing methods (1-2 sentences is fine...I'm not looking for an essay). 2. Refer to Xylo above. The absorption costing income statement prepared by the company's accountant for last year appears below: Sales Cost of Goods Sold Gross Margin Selling & Admin Expense Net Operating Income $191,250 $157,500 $33,750 $24,500 $9,250 Required: A) Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period. B) Prepare an income statement for the year using variable costing. Explain the difference in net operating income between the two costing methods (1-2 sentences is fine...I'm not looking for an essay)