Required information Exercise 6-11 (Algo) Absorption costing and variable costing income statements LO P2 [The following information applies to the questions displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. Exercise 6-11 (Algo) Part 1 1. Prepare the current-year income statement using varlable costing. Exercise 6-11 (Algo) Part 2 2. Prepare the current-year income statement using absorption costing