4. Huang Company operates with a single product. The following simple income statement relates to last year when sales units totaled 28,000 Variable Costing Total $ Per unit $ Sales 616,000 22.00 Variable COGS 231,000 8.25 Variable S&A expense 56,000 2.00 Contribution margin 329,000 11.75 Fixed Man Ovrhd expenses 151,500 Fixed S&A expenses 42,000 Net operating income 135,500 a. (12 pts) Huang Company unit production for the year totaled 30,000 Prepare a GAAP income statement for Huang Company. Reconcile any difference between the Variable costing and GAAP net operating incomes. b. Explain why the variable costing income statement format may be preferred over the GAAP format when constructing operating income statements for internal business segments. (4 pts)