3 Wheman Company has just completed its first year of operations. The company's absorption costing income statement for the year Whitman Company Income Statement Sales (42,000 units X $42.60 per unit) Cost of goods sold (42,800 units $21 per unit) Gross margin Selling and administrative expenses Net operating income $1,789,200 882,000 907,200 483,000 $ 424,200 The company's selling and administrative expenses consist of $315,000 per year in fixed expenses and St per un expenses. The $21 unit product cost given above is computed as follows: $10 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($255,000 + 51,000 units) Absorption costing unit product cost $ 21 Required: 1. Redo the company's income statement in the contribution format using variable conting 2. Reconcile any differepce between the net operating income on your variable costing com Income on the absorption costing income statement above. Complete this question by entering your answers in the tabs below. Required 1 Required 2 mi's Income statement in the contribution for