The following data relate to Armstrong Company for the year ended December 31, 2011:

Cost of production:

Direct materials (variable)	$360,000
Direct labor (variable)	504,000
Manufacturing overhead:
Variable	180,000
Fixed	360,000
Sales commissions (variable)	108,000
Sales salaries (fixed)	72,000
Administrative expenses (fixed)	144,000
Units produced	150,000
Units sold (at $18 each)	120,000
Beginning inventory, January 1, 2014	0

There were no beginning inventories. Assume direct materials and direct labor are variable costs. Prepare two income statementsa variable costing income statement and an absorption costing income statement.