The annual data that follows pertain to See It, 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 (absorption costing) and contribution margin (variable costing) income statements for See it for the year. Begin with the conventional (absorption costing) income statement See it Income Statement (Absorption Costing) Sales revenue For the Year Ended December 31 Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Question 5, E6-42A (similar to) Part 1 of 6 goggles (the company had no beginning inventory): Data table > Sales price... 45 Variable manufacturing expense per unit $ 16 16 Sales commission expense per unit $ 8 Fixed manufacturing overhead.. $ 2,820,000 Fixed operating expenses.... $ 230,000 Number of goggles produced. Number of goggles sold 235,000 221,000 Print Done VISUS Requirements X 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for See It 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 $135,000 would increase sales to 235,000 goggles. Should the company go ahead with the promotion? Give your reason. the cor Print Done