Summarized data for Walrus Co. for its first year of operations are: $6,000,000 1,800,000 Sales (100,000 units) Production Costs (120,000 units): Direct Material Direct Labor Manufacturing Overhead: Variable 1,440,000 840,000 Fixed 300,000 Selling and Administrative Expenses: Variable Fixed 250,000 430,000 A. Prepare an income statement under absorption costing. Walrus Co. Absorption Costing Income Statement Cost of Goods Sold: $ B. Prepare an income statement under variable costing. Walrus Co. Variable Costing Income Statement Sales Variable Cost of Goods Sold: Fixed Expenses