A. Manufacturing Company incurred $58,000 of foxed product cost and $46,400 of varlable product cost during its first year of operation Also during its filstyear, A incurred $18,400 of fixed and $14,600 of variabie selling and administrative costs. The cornpany sold all of the units it produced for $192,000. Required a. Prepare an income statement using the format required by generally accepted accounting Principles (GAAP). b. Prepare an income statement using the contribution margin approach, Complete this question by entering your answers in the tabs below. Prepare an income statement using the format required by generally accepted accounting Principles (GAAP). AJ Manufacturing Company incurred $58,000 of fixed product cost and $46,400 of variable product cost during its first year of AJ Manufacturing Company incurred $58,000 of fixed product cost and $46,400 of variable product cosinistrative costs. The company operation. Also during its first year, A. Incurred $18,400 of fixed and $14,600 of variable selling and adming sold all of the units it produced for $192,000. Required a. Prepare an income statement using the format required by generally accepted accounting Principles (GAAP). b. Prepare an income statement using the contribution margin approach. Complete this question by entering your answers in the tabs below. Prepare an income statement using the contribution margin approach