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Sims Company, a manufacturer of tablet computers, began operations on January 1,2017 . its cost and sales information for this year follows. 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. 3. Under what circumstance(s) is reported income identical under both absorption costing and variable costing? Complete this question by entering your answers In the tabs below. Prepare an Income statement for the year using variable costing. Pregare an income statement for the year using abserption costing. 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. 3. Under what circumstance(s) is reported income identical under both absorption costing and variable costing? Complete this question by entering your answers in the tabs below. Under what circumstance(s) is reported income Identical under both absorption costing and variable costing? Reported income identical under both