HELPP PLEASE

Georgia Company has been producing and selling 100,000 units per year. They have excess capacity. The following budget was prepared for the next year: Selling price per unit $12.50 Direct materials per unit 5.00 Direct labor per unit 3.00 Variable overhead per unit 1.00 Variable selling and administrative per unit 0.25 Total fixed overhead costs $80,000 Total fixed selling and administrative 35,000 Prepare an income statement using the contribution approach. Prepare an income statement using the absorption approach