Prepare income statement for year 1 and 2

Woish Compsny manuisctures snd selis one product. The folowing infomation pertains to esch of the campsny's first two years of aperations: During its first year of operations, Wislsh produced 50,000 units and sold 40,000 unlts. During its second year of operationk, it aroduced 40,000 unlts and sald 50,000 units. The seling price of the compsny's praduct is $55 per unlt Requlred: 1. Agsume the campary uses varlabie coating a. Compute the unit product cost for Yeor 1 snd Yesr 2 b. Prepore sn income statement far Yeer 1 snd Yesr 2 2. Assume the campany uses absorption costrg: 9. Compute the unit praduct cost for Year 1 and Year 2. b. Prepare sn income ststement for Year 1 snd Yesr 2 3. Reconclie the difference between variable costing snd absorptian costing net aperating inconte in Yesr 1. Complete this question by entering your answers in the tabs below. Assume the company uses aboorption cocting. Frepare an income statement for Yese 1 and Year 2 . (Round your Intermediate calczlations to 2 dedimsl plsoss.)