On January 1 of the current year, C. F. Hartley Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January: Units Production 50,000 Sales ($18 per unit) 42,000 Inventory, January 31 8,000 ====== Total Cost or Expense Manufacturing costs: Variable $575,000 Fixed 75,000 Total $650,000 ======== Selling and administrative expenses: Variable $ 33,600 Fixed 10,500 Total $ 44,100 ======== (a) Prepare an income statement in accordance with absorption costing. (b) Prepare an income statement in accordance with variable costing