Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit $ 330 per unit Units produced this year 110,000 units Units sold this year 113,250 units Units in beginning-year inventory 3,250 units Beginning inventory costs Variable (3,250 units $135) $ 438,750 Fixed (3,250 units $70) 227,500 Total $ 666,250 Manufacturing costs this year Direct materials $ 42 per unit Direct labor $ 66 per unit Overhead costs this year Variable overhead $ 3,200,000 Fixed overhead $ 7,400,000 Selling and adminstrative costs this year Variable $ 1,450,000 Fixed 4,400,000 Prepare the current year income statement for the company using variable costing. 2.Prepare the current year income statement for the company using absorption costing.