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During the fest month of cperations ended March 31, IceBox Fridgeration Compary manufactured 165, 000 mini retigerators, of which 150,000 were sold. Operating dota for the month are oummared on follown: Fiequired: 1. Prepare an inoome statement based on ine absoptop costing concepe Inventory, March 31 Loss from operations Manufacturing margin Planned contribution margin Sales Sales mix Selling and administrative expenses Total cost of goods sold Total fixed costs Total variable cost of goods sold Variable cost of goods manufactured Variable selling and administrative expenses 2. Prepare an income statement based on the variable costing concept. 1. Prepare an income statement based on the absorption costing concept. Income Statement instructions Labels and Amount Descriptions Labels March 31 Cost of goods sold Fixed costs For the Month Ended March 31 Variable cost of goods sold Amount Descriptions Contribution margin Contribution margin ratio Cost of goods manufactured Fixed manufacturing costs Fixed selling and administrative expenses Gross profit Operating income Inventory, March 31 Loss from operations Manufacturing margin Planned contribution margin Sales Sales mix