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O'Brien Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses 5 $ $ $ 26 15 5 5560,000 $150,000 During its first year of opera O'Brien produced 96,000 units and sold 80,000 units. During its second year of operations, it produced 76,000 units and sold 87,000 units. In its third year, O'Brien produced 83,000 units and sold 78,000 units. The selling price of the company's product is $80 per unit 3. Assume the company uses absorption costing and a FIFO inventory flow assumption (FIFO means first in first-out. In other words, it assumes that the oldest units in inventory are sold first) a. Compute the unit product cost for Year 1 Year 2 and Year 3 b. Prepare an income statement for Year 1 Year 2, and Year 3 Complete this question by entering your answers in the tabs below. RAGA Reg 38 Prepare an income statement for Year 1, Year 2, and Year 3. (Round your intermediate calculations to 2 decimal places.) O'Brien Company Absorption Costing Income Statement Yon 1 Year 2 Years Sales 56.400,000 $6.960,000 $6240.000 Cost of goods sold 4 145.400 Gross margin 2,253 600 6.960,000 6.240,000 Selling and administrative experts Not operating income $ 2.253.600 56.960,000 36,240 000