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Whitmen Company has just compieted its first year of opecations. The companys absorption costing income statement for the vear follows: The corpany's selling and administrative expenses consist of $292,500 per year in fixed expenses and $4 per unit sold in variable expenses. The $23 unt product cost giren above is computed as follows: Required: 1. Redo the companys income statement in the contribution format using variable costing 2. Reconcile amp difference between the net operating income on your variable costing income statement and the net operating incorne on the absorption costing income statement above. Complete this question by entering your answers in the tabs below. Fedo the company incerne stutement in the conthitutian format using variabie casting