O'Sullivan's Products manufactures a single product. Cost, sales, and production information for the company and its single product is as follows: O'Sullivan's Products manufactures a single product. Cost, sales, and production information for the company and its single product is as follows:

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Requirement $2.$ Prepare an income statement for the upcoming year using absorption costing. $($Check your spelling carefully and do not abbreviate.$)$

O'Sullivan's Products

Income Statement $($Absorption Costing$)$

For the Year Ended December $31$

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O'Sullivan's Products

Contribution Margin Income Statement $($Variable Costing$)$

For the Year Ended December $31$