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 $ $28$

Direct labor $ $15$

Variable manufacturing overhead $ $6$

Variable selling and administrative $ $3$

Fixed costs per year:

Fixed manufacturing overhead $ $500,000$

Fixed selling and administrative expenses $ $200,000$

During its first year of operations, O$$Brien produced $97,000$ units and sold $73,000$ units. During its second year of operations, it produced $78,000$ units and sold $97,000$ units. In its third year, O$$Brien produced $85,000$ units and sold $80,000$ units. The selling price of the company$$s product is $$77$ per unit.

$4.$ Assume the company uses absorption costing and a LIFO inventory flow assumption $($LIFO means last$-$in first$-$out. In other words, it assumes that the newest units in inventory are sold first$)$:

Compute the unit product cost for Year $1,$ Year $2,$ and Year $3.$

Prepare an income statement for Year $1,$ Year $2,$ and Year $3.$