Income Statements under Absorption Costing 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 summarize the results for July:

Sales units

Production costs $(23,000$ units$)$:

$\backslash$table$[[$Direct materials,$$936,100,],[$Direct labor,$448,500,],[$Variable factory overhead,$225,400,],[$Fixed factory overhead,$149,500,1,759,500$

Prepair an income statement according to the absorption costing concept and also prepare an income statement according to the variable costing concept.