AJ Manufacturing Company incurred $56,500 of fixed product cost and $45,200 of variable product cost during its first year of operation. Also during its first year, AJ incurred $17,950 of fixed and $14,300 of variable selling and administrative costs. The company sold all of the units it produced for $186,000. 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an Income statement using the contribution margin approach. AJ MANUFACTURING COMPANY Revenue Variable cost Contribution margin Fixed cost Net income Income Statement $186,000 45,200 171,700 x 56,500 x $ 115,200 x