Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows $ 40 per unit 60 per unit 30 per unit $7,000,000 (per year) Manufacturing costs Direct materiala Direct labor Overhead coats 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 $ 775,000 $4,000,000 100,000 units 70,000 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 1 Required 2 Prepare an income statement for the year using variable costing, Required 1 Required 2 Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Costing Income Statement Net Income (loss) Fequired Required 2 >