Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. 35 per unit 55 per unit Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit 30 per unit $7,350,000 (per Year) $ 725,000 $4,750,000 105,000 units 75.000 units 350 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. Required: Required 2 Prepare an income statement for the year using variable costing SIMS COMPANY Variable Costing Income Statement Proy 3 of 6 !!! Next > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using variable costing SIMS COMPANY Variable Costing Income Statement Sales Loss: Variable costs Direct materials Direct labor Variable overhead costs Variable seling and administrative expenses Total variable costs Contribution margin Less Fixed expenses Fixed overhead costs Fixed selling and administrative costs Not income (s) Required 2 > 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 (los)