Syton, Incorporated, a frozen food manufacturer, began operations on January 1 of the current year. During this time, the company produced 140,000 units and sold 140,000 units at a sales price of $125 per unit. Cost information for this period is shown in the following table:

Direct materials	$ 13.00	per unit
Direct labor	$ 6.00	per unit
Variable overhead	$ 15.00	per unit
Fixed overhead	$ 3,220,000	per year
Variable selling and administrative	$ 0.65	per unit
Fixed selling and administrative	$ 458,000	per year

1. Prepare Syton's December 31st income statement for the current year under absorption costing.
2. Prepare Syton's December 31st income statement for the current year under variable costing.

Thank you !