Exerclse 19-5 Absorption costing ond varlable costing Income statements LO P2 Rey Company's single product sells at a price of $232 per unit. Data for its single product for its first year of operations follow. 1. Prepare an income statement for the year using absorption costing 2. Prepare an income statement for the year using variable costing Complete this question by entering your answers in the tabs below. Prepare an income statement for the year using absorption costing. Exerclse 19-5 Absorption costing and varlable costing Income statements LO P2 Rey Company's single product selis at a price of $232 per unit. Data for its single product for its first year of operations follow. 1. Prepare an income statement for the year using absorption costing 2. Prepare an income statement for the year using variable costing. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year using variable costing