The following data was extracted from the books of Ed Manufacturing Ltd. For the period, 100000 units of Product V were produced. The company sold 94000 units in the period. The costs and revenues were: Sales: \$1 410000 Production costs: $1000000 Administrative overheads: \$250 000 . Note that 75 per cent of the production costs are fixed and all of the administrative overheads are fixed. Required: Prepare operating statements under marginal costing and absorption costing principles