Sims Company began operations on Janvary 1, its cost and sales intormanion tor this vear tnilimu 1. Prepare an income statement for the year using variable costing 2. Prepare an income statenent for the year using absorption costing. Complete this question by entering your answers in the tabs below. Prepare an income atatement for the year using variable costing. 1. Prepare an income statement for the year using variabie costing. 2. Prepare an income'stitement for the year using vaciabie costily:ing Complete this question by entering your answers in the tabs below. prepare an income itatement for thie vear using absorptico costing