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The annual data that follow pertain to Dan's Dynomite Eyewear, a manufacturer of swimming goggles. Dan's Dynomite Eyewear had no beginning Finished Goods Inventory in January.) (Click the icon to view the data.) Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Dan's Dynomite Eyewear for the year ended December 31. 2. Which statement shows the higher operating income? Why? 3. Dan's Dynomite Eyewear's marketing vice president believes a new sales promotion that costs $120,000 would increase sales to 140,000 goggles. Should the company go ahead with the promotion? Give your reasoning. Requirement 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Dan's Dynomite Eyewear for the year ended December 31. (Round intermediary calculations to the nearest cent.) Begin by preparing Dan's Dynomite Eyewear's conventional (absorption costing) income statement for the year endec December 31. The annual data that follow pertain to Dan's Dynomite Eyewear, a manufacturer of swimming goggles. Dan's Dynomite Eyewear had no beginning Finished Goods Inventory in January.) (Click the icon to view the data.) Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Dan's Dynomite Eyewear for the year ended December 31. 2. Which statement shows the higher operating income? Why? 3. Dan's Dynomite Eyewear's marketing vice president believes a new sales promotion that costs $120,000 would increase sales to 140,000 goggles. Should the company go ahead with the promotion? Give your reasoning. Requirement 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Dan's Dynomite Eyewear for the year ended December 31. (Round intermediary calculations to the nearest cent.) Begin by preparing Dan's Dynomite Eyewear's conventional (absorption costing) income statement for the year endec December 31