Income Statements under Absorption Costang and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at \100 of capacity during the first month. The following data summanize the results for. July: If required, round interim per-unit calculations to the nearest cent. a. Prepare an inceme statement according to the absorption costing concept. b. Prepare an income statement according to the variable costing concept. Gallatin County Motors Inc. Variable Costing Income Statement For the Month Ended July 31 Sales Variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed factory overhead costs Fixed selling and administrative expenses Total fixed costs \\( \\$ \\) \\( \\checkmark \\) If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the bsorption costing concept