Jackon Compary produces plastic that is used for injection-molding applications suchas gears for small motors. In 2016, the first year of operations, Jackson produced 6.000 tons of plastic and sold 4.500 tons. In 2017, the production and sales results were exactly reversed. In each year, the selling price per ton was 52000 , variable manufacturing costs were 19 of the sales price of units produced, variable selline expenses were 8 . of the selling price of units sold. fixed manufacturing costs were 54,380,000, and foxed administrative expenses were 55+0000 Prepare income statements for each year isine variable costine Reconcile the differences each year in net income under the two costing approaches. Prepare income statements for each year using variable costing Question 3 of 3 JACKSON COMPANY Income Statement Variable Costing $ $ $ Prepare income statements for each year using absorption costing. JACKSON COMPANY Income Statement Absorption Costing $ * $ Reconcile the differences each year in net income under the two costing approaches