Duning the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 80,000 mini fetrigerazors, of which 72,000 were sold Oparating data for the month are summarized as folow5 Required: 1. Prepare an income statement based on the absorption costing concept. * 2. Prepare an income statement based on the variable costing concept = 3. Explain the reason for the difference in the amount of operating income reported in (1) and (2). +Be sure to compiete the statement heading. Refer to the ilst of Labels and Amount Descriptions provided for the exact wording or the answer choices for text entries. A colon () will automatically appear if it is required Enter amounts as positive numbers uniess the amount is a calculation that results in a negative amount. For example: Net lass should be negative. 1. Prepare an income statement based on the absorption costing concept. Be sure to complete the statement heading . Rafer to the list of Labeis and Amount Descrnotons provided for the exac wording of the answer choices for text entries. A colan () will automatically appear if it is required Enfer amounts as postive numbers unibss the amount is a cakcuobics that resuls in a negabn emount. For example: Net lass should be negative. Absorption Costing Income Statement Absorption Costing Income Statement For the Month Ended August 31 1 Sales 2 Cost of goods sold: 3. Cost of goods manufactured 4 inventory august 31 5 Total cost of goods sold 6. Gross profit 7. Selling and administrative expenses 8 income from operations