Required Information Exercise 19.3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [The following information applies to the questions disployed below] Cool Sky reports the following for its first year of operations. The company produced 42,000 units and sold 34,000 units at a price of $130 per unit. Exercise 19-3 (Algo) Port 1b 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing