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The annual data that follow pertain to Carl's Crazy Eyewear, a manufacturer of swimming goggles. (Carl's Crazy Eyewear had no beginning Finished Goods Inventory in January.) (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Carl's Crazy Eyewear for the year ended December 31. (Round intermediary calculations to the nearest cent.) Begin by preparing Carl's Crazy Eyewear's conventional (absorption costing) income statement for the year ended December 31. Carl's Crazy Eyewear Requirements Income Statement (Absorption Costing) Data table Year Ended December 31 1. Prepare both conventional (absorption costing) and contribution margin Net Sales Revenue (variable costing) income statements for Carl's Crazy Eyewear for the year Number of goggles produced 230,000 ended December 31. Cost of Goods Sold Number of goggles sold 190,000 2. Which statement shows the higher operating income? Why? Gross Profit 3. Carl's Crazy Eyewear's marketing vice president believes a new sales Sales price per unit $ 35 promotion that costs $50,000 would increase sales to 200,000 goggles Selling and Administrative Costs Variable manufacturing cost per unit 7 Should the company go ahead with the promotion? Give your reasoning. Operating Income Sales commission cost per unit 5 Fixed manufacturing overhead 690,000 Fixed selling and administrative costs 150,000 Help me solve this Demodocs example G Print Done