The Gable Company manufactures trendy, high-quality, moderately priced watches. As Gable's senior financial analyst, you are asked to recommend a method of inventory costing. The chief financial officer (CFO) will use your recommendation to prepare Gable's 2020 income statement. The following data are for the year ended December 31, 2020 (Click the icon to view the data) Read the requirements (Click the icon to view the assumptions.) Requirement 1. Prepare income statements under variable and absorption costing for the year ended December 31, 2020 Begin by preparing the income statement under variable costing for the year ended December 31, 2020. Complete the top half of the income statement first, then complete the bottom portion Variable costing