Required: 1. Calculate each year's absorption costing net operating income. (Enter any losses or deductions as a negative value.) & Answer is not complete. Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Year 1 Year 2 Year 3 Variable costing net operating income Add (deduct) fixed manufacturing overhead deferred in (released from) inventory under 16,800 X absorption costing Absorption costing net operating income 1,063,600 X Required information (The following information applies to the questions displayed below.] Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 2 Year 3 Inventories Beginning (units) Ending (units) Variable costing net operating income 220 170 $290,000 170 180 $279,000 180 220 $260,000 The company's fixed manufacturing overhead per unit was constant at $400 for all three years. Required: 1. Calculate each year's absorption costing net operating income. (Enter any losses or deductions as a negative value.)