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Required information The following information applies to the questions displayed below.) Cool Sky reports the following for its first year of operations. The company produced 44.000 units and sold 36,000 units at a price of $140 per unit. Direct materials $ 60 per unit Direct labor $ 22 per unit Variable overhead $ 8 per unit Fixed overhead $ 528,000 per year Variable selling and administrative expenses $ 11 per unit Fixed selling and administrative expenses $ 105,000 per year 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. Income Statement (Variable Costing) Sales Less: Variable expenses Variable cost of goods sold Variable selling and administrative expenses 0 Contribution margin Less: Fixed expenses Fixed selling and administrative costs Income