Now prepare the income statement under absorption costing for the year ended December 31,2020 . Complete the top half of t any variances as favorable (F) or unfavorable (U).) The Gable Company manufactures trendy, high-quality, moderately priced watches. As Gable's senior financial analyst, you are asked to recommend a method of inventory costing. The chief financial officer (CFO) will use your recommendation to prepare Gable's 2020 income statement. The following data are for the year ended December 31,2020 : (Click the icon to view the data.) (Click the icon to view the assumptions.) Read the requirements. Data table