Prepare income statements for each of these two years under variable costing. Loss amounts should be entered with a minus sign?

Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow. Income Statements ( Absorption Costing ) sales ($58 per unit) Year 1 Year 2 cost of goods sold ($48 per unit) 1, 914, 090 $ 3,538,600 Gross profit 1, 584, 090 2,928,090 330,060 Selling and administrative expenses 610, 090 Print 223, 090 251,906 Income $ 107,090 $ 359, 090 Additional Information a. Sales and production data for these first two years follow. Units Year 1 Year 2 Units produced 47, 090 47,909 Units sold 33,090 61,090 b. Variable costs per unit and fixed costs per year are unchanged during these years. The company's $48 per unit product cost using absorption costing consists of the following. Direct materials $ 17 Direct 1 Variable overhead Fixed overhead ($423,009/47, 090 units) Total product cost per unit c. Selling and administrative expenses consist of the following. calling and Administrative Expenses Year 1 Year 2 Variable selling and administrative ($1 per unit sold) $ 33,000 $ 61,090 190,900 190, 089 Fixed selling and administrative $ 223,080 $ 251, 090