During the first month of operations ended August 31 , Kodiak Fridgeraton Company manufactured 45,000 min retrigerators, of which 42.000 were sold Operating data for the month are summanzed as follows 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 income from operations reported in (1) and (2) "Refer to the lisfs of Labels and Amount Descriptions for the exact wording of the answer choices for text entries Be sure to complete the statement heading A colon () will automatically appear it required. Enter Inventory. August 31 as a negative number using a minus sign. If a net loss is incurred, enter that amount as a negative number using a minus sign