The annual data that follows pertain to Swim Clearly, a manufacturer of swimming goggles (the company had no beginning inventory): (Click the icon to view the data.) Read the requirements. Data table Now let's prepare the contribution margin (variable costing) income statement for Swim Clearly for the year. any had no beginning inventory): 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Swim Clearly 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 $155,000 would increase sales to 240,000 goggles. Should the company go ahead with the promotion? Give your reason. The annual data that follows pertain to Swim Clearly, a manufacturer of swimming goggles (the company had no beginning inventory): (Click the icon to view the data.) Read the requirements. Data table Now let's prepare the contribution margin (variable costing) income statement for Swim Clearly for the year. any had no beginning inventory): 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Swim Clearly 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 $155,000 would increase sales to 240,000 goggles. Should the company go ahead with the promotion? Give your reason