Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the company produced 1,025 kayaks and sold 775 at a price of $1,025 each. At this first year-end, the company reported the following income statement information using absorption costing Sales (775 x $1,025) Cost of goods sold (775 x $475) Gross margin Selling and administrative expenses 794,375 368,125 426,250 230,e00 $ 196,250 Net income Additional Information a. Product cost per kayak totals $475, which consists of $375 in variable production cost and $100 in fixed production cost-the latter amount is based on $102.500 of fixed production costs allocated to the 1,025 kayaks produced. b. The $230,000 in selling and administrative expense consists of $75,000 that is variable and $155,000 that is fixed Required: 1. Prepare an income statement for the current year under variable costing 2. Fill in the blanks Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the current year under variable costing. KENZI KAYAKING Variable Costing Income Statement Net income (loss) Required 2> Required: 1. Prepare an income statement for the current year under variable costing. 2 Fill in the blanks Complete this question by entering your answers in the tabs below. Required 1 Required 2 Fill in the blanks: foxed overhead per unit The dollar difference in variable costing income and absorption costing income units (Required 1