The annual data that follow pertain to Aquatic Optics, a manufacturer of swimming goggles (the company has no beginning inventory): Sale price Variable manufacturing expense per unit Sales commission expense per unit Fixed manufacturing overhead Fixed operating expense Number of goggles produced Number of goggles sold $47 $16 $5 $2,000,000 $260,000 200,000 192,000 Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Aquatic Optics for the year. Aquatic Optics Conventional (Absorption Costing) Income Statement Year Ended December 31 Sales revenue Cost of goods sold Gross profit Operating expenses Operating income Aquatie Opties Contribution Margin (Variable Costing) Income Statement Year Ended December 31 Sales revenue Variable expenses Variable cost of goods sold Sales commission expense Contribution margin Fixed expenses: Manufacturing overhead Operating expenses Operating income