Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. 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 40 per unit $ 60 per unit $ 2e per unit $8,see, eee (per year) $ 725, eee $4,250, eee 110,000 units 8e, eee units 36e per unit $ 1. Prepare an income statement for the year using variable costing 2. Prepare an income statement for the year using absorption costing Required 1 Required 2 Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Costing Income Statement Net income (loss) Required 1 Required 2 Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement Net income (loss)