Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow Income Statements (Absorption Costing) Sales (545 por unit) Cost of goods sold (520 per unit) Gruss profit Selling and administrative expenses Incowe () Year 1 Year 2 2 $ 900,00 $ 2,eze, 998 698, 1.114, 352, 738.898 29, 937, $ 63,000 399.000 Additional Information a. Sales and production data for these first two years follow Units Units produced Units sold Yer 1 14, 22.000 Year 2 14, 46,300 b. Variable costs per unit and fixed costs per year are unchanged during these years. The company's $29 per unit product cost using absorption costing consists of the following. $ 21 Direct noterials Direct labor Variable whead Fixed overhead ($272,000/24, eea units) Total product cost per unit c. Selling and administrative expenses consist of the following Selling and Administrative Expenser Variable selling and soninistrative ($2 per unit sold Fixed selling and administrative Total Year 1 1 5 44,000 245.000 $ 29,90 Year 2 92,000 245,000 $ 597, Required: Prepare income statements for each of these two years under variable costing Loss amounts should be entered with a minus sign. IKIWELL Company Income Statements (Variable Coating) Yeur 1 Yeur 2 inome il