Sims Company, a manufacturer of tablet computers, began operations on January 1. 2015. Its cost and sales information for this year follows. Prepare an income statement for the year using absorption costing. 3. Under what cicumstance(s) is reported income identical under both absorption cosing and variable cosing? Production is less than sales and inventory levels decrease Production equals sales and there is no beginning finished goods inventory Incomes of absorplon costing and variable cosing will never be identical Production is greater than sales and inventory levels decrease Production is greater than sales and inventory levels increase