Sims Company, a manufacture of tablet computers, began operations on January 1, 2019. Is cost and sales information for this year follows 3 35 per it 35 per it Manufacturing costs Direct materials Direct labor Overhead coats Variable xed Selling and dininistrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit 5 40 per uit 56.000.000 per year 5000, $4.500,000 100.0 units 79.000 1 360 per unit 1. Prepare an income statement for the year using variable costing 2. Prepare an income statement for the year using absorption costing Complete this question by entering your answers in the tabs below. Roured 1 Required 2 Prepare an Income statement for the yearsing variable costing. SIMS COMPANY e to search # 3 | 2 $ 4 96 5 6 7 00 9 o E E 20 T U o P F G H . K - Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement Net income (loss)