The annual data that follows pertain to Shady, a manufacturer of swimming goggles (the company had no beginning inventory HE (Click the icon to view Me data) Requirements 1. Prepare both conventional (absorption costing and contribution margin (variable costing) Income statements for Shady for the year 2. Which statement shows the higher operating income? Why? 3. The company marketing vice president believes a news promotion that cows $150.000 would increases to 210.000 peggies. Should the company go ahead with the promotion? Give your reason ing and contribution margin variable costing) income statements for Shady for the year. Begin with the conventional absorption costing income statement Requirement 1. Prepare both conventional (bortion Shady Income Statement (Absorption Costing) For the Year Ended December 31 Sales revenue Datable Sa erunt nt $ Vam p Sales comm e Fred manufacturing overhead Foxadeperating expenses Number of les produced Number of 2,310 000 235.000 210,000 200 000