Required information Skip to question [The following information applies to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units at a price of $110 per unit. Direct materials $ 42 per unit Direct labor $ 16 per unit Variable overhead $ 5 per unit Fixed overhead $ 396,000 per year Variable selling and administrative expenses $ 12 per unit Fixed selling and administrative expenses $ 115,000 per year 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing