On January 1 of the current year, C. F. Hartley Co.commenced operations. It operated its plant at 70% ofcapacity during January The following data summarized the results for January: Production Sales (S18 per unit) Inventory, January 31 Units 50,000 42.000 8,000 Total Cost or Expense Manufacturing costs: Variable Fixed S575,000 75,000 S650,000 Total Variable Fixed $ 33,600 10.500 $ 44,100 Total (a) Prepare an income statement in accordance with absorption costing (b) Prepare an income statement in accordance with variable costing