Same question, just nees help with the Absorption costing Income statement & the variable costing income statement

Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42,000 units and sold 34,000 units at a price of $110 per unit. Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year $ 42 $ 16 $ 5 $ 378,000 $ 10 $ 110,000 Exercise 06-9 Part 1b 16. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. $ 3,740,000 COOL SKY Absorption Costing Income Statement Sales Less: Cost of goods sold Direct materials Direct labor Fixed overhead costs Variable overhead costs 0 0 1,292,000 Cost of goods sold Gross margin Selling general and administrative expenses Fixed selling and administrative costs Variable selling and administrative expenses 0 0 Net income (loss) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42,000 units and sold 34,000 units at a price of $110 per unit Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year $ $ 16 $ 5 $ 378,000 $ 10 $ 110,000 Exercise 06-9 Part 2b 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing $ 3,740,000 COOL SKY Variable Costing Income Statement Sales Less: Variable costs Variable product costs Variable selling and administrative expenses 0 Contribution margin Less: Fixed expenses Fixed overhead costs Fixed selling and administrative costs 0 Net income (loss)