Read the requirements. see il 1 Requirements Income Statement (Absorption Costing) For the Year Ended December 31 Sales revenue $ 8,858,000 6,798,000 Less: Cost of goods sold Gross profit 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for See It for the year. 2. Which statement shows the higher operating income? Why? 3. The company marketing vice president believes a new sales promotion that costs $155.000 would increase sales to 220.000 goggles. Should the company go ahead with the promotion? Give your reason 2,060,000 1,677,000 Less Operating expenses $ Operating income 383,000 Now let's prepare the contribution margin (variable costing) income statement for See it for the year. Print Done See It Contribution Margin (Variable Costing) Income Statement Data Table - X For the Year Ended December 31 Sales revenue Less Variable expenses Sales price. ....... 43 Variable cost of goods sold Variable manufacturing expense per unit... $ 24 Variable operating expenses Sales commission expense per unit $ 7 Contribution margin Fixed manufacturing overhead. $ 1,980,000 Less: Fixed expenses $ 235.000 Fixed operating expenses.. Number of goggles produced. Fixed manufacturing overhead 220,000 Number of goggles sold 206.000 Fixed operating expenses Operating income Print Done Choose from any list or enter any number the input fields and then