Dowell Company produces a single product. Its income under variable costing for its first two years of operation follow.

Variable Costing Income	Year 1	Year 2
Income	$ 50,000	$ 680,000

Additional Information

Sales and production data for these first two years follow.

Units	Year 1	Year 2
Units produced	52,000	52,000
Units sold	40,000	64,000

The companys $33 per unit product cost (for both years) using absorption costing consists of the following.

Direct materials	$ 6
Direct labor	9
Variable overhead	8
Fixed overhead ($500,000/50,000 units)	10
Total product cost per unit	$ 33

Required: Prepare a statement to convert variable costing income to absorption costing income for both years. (Leave no cells blank - be certain to enter "0" wherever required.)