Cool Sky reports the following for its first year of operations. The company produced 40,000 units and sold 32,000 units at a price of $120 per unit. Exercise 19-3 (Algo) Part 1b 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. Exercise 19-3 (Algo) Part 1a 1a. Assume the company uses absorption costing. Determine its total product cost per unit. Cool Sky reports the following for its first year of operations. The company produced 40,000 units and sold 32,000 unit at a price of $120 per unit. xercise 19-3 (Algo) Part 1b Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing