The 2018 data that follow pertain to Dan's Dynomite Eyewear, a manufacturer of swimming goggles. (Dan's Dynomite Eyewear had no beginning Finished Goods Inventory in January 2018.) (Click the icon to view the data.) Read the requirements Requirement 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Dan's Dynomite Eyewear for the year ended December 31, 2018. (Round intermediary calculations to the nearest cent.) Begin by preparing Dan's Dynomite Eyewear's conventional (absorption costing) income statement for the year ended December 31, 2018. Dan's Dynomite Eyewear Income Statement (Absorption Costing) Year Ended December 31, 2018 Operating Income Read the regu Data table Requirement ncome staten alculations to costing htermed Begin by prep ended Decem 160,000 120,000 It for the $ 40 Number of goggles produced Number of goggles sold Sales price per unit Variable manufacturing cost per unit Sales commission cost per unit Fixed manufacturing overhead Fixed selling and administrative costs 15 Incol 5 960,000 190,000 Print Done Operating Ince ad the requirements. Requirements Requirements eg tol Ice ly ear P9 nde 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Dan's Dynomite Eyewear for the year ended December 31, 2018. 2. Which statement shows the higher operating income? Why? 3. Dan's Dynomite Eyewear's marketing vice president believes a new sales promotion that costs $420,000 would increase sales to 155,000 goggles. Should the company go ahead with the promotion? Give your reasoning Print Done opel