The annual data that follows pertain to Rick's Radical Eyewear, a manufacturer of swimming goggles (the company had no beginning inventory): (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare both conventional (absor costing) income statement. Rick's Radical Eyewear Income Statement (Absorption Costi For the Year Ended December 31 Sales revenue Less: Cost of goods sold Gross proft Less: Operating expenses Operating income Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Rick's Radical Eyewear for the year. 2. Which statement shows the higher operating income? Why? 3. The company marketing vice president believes a new sales promotion that costs $170,000 would increase sales to 205,000 goggles. Should the company go ahead with the promotion? Give your reason. Print Done r the year. Begin with the