Check my work Whitman Company has just completed its first year of operations. The company's absorption costing income statement for the yer follows: itman Company Income Statenent 10 points Sales (41,000 units $40.60 per unit) Cost of goods sold (41,000 units $23 per unit) Gross margin Selling and administrative expenses Net operating income $1,664,600 943,000 721,600 430,500 $ 291,100 eBook Hint Print References The company's selling and administrative expenses consist of $307,500 per year in fixed expenses and $3 per unit sold in variable expenses. The $23 unit product cost given above is computed as follows: s 11 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead (5312.00052,000 units) Absorption cost ing unit produet cost s 23 Required: 1. Redo the company's income statement in the contribution format using variable costing. 2. Reconcile any difference between the net operating income on your variable costing income statement and the net operating income on the absorption costing income statement above