2016 2017 Sales ($46 per unit) Cost of goods sold ($31 per unit) Gross margin Selling and administrative expenses Net income $920,000 $1,840,000 620,000 1,240,000 600,000 340,000 10,000 260,000 300,000 290,000 Additional Information a. Sales and production data for these first two years follow. 2016 2017 Units produced Units sold 20,000 40,000 30,000 30,000 b. Variable cost per unit and total fixed costs are unchanged during 2016 and 2017. The company's $31 per unit product cost consists of the following Direct materials Direct labor Variableoverhead Fixed overhead ($300,000/30,000 units) Total product cost per unit 10 $31 c. Selling and administrative expenses consist of the following 2016 2017 Variable selling and administrative expenses ($2.50 per unit) Fixed selling and administrative expenses Total selling and administrative expenses $ 50,000 $100,000 240,000 240,000 $290,000 $340,000 2. What are the differences between the absorption costing income and the variable costing income for these two years? (Loss amounts should be entered with a minus sign.)