The manufacturing and selling data for Lost Online Inc. for the year 2019 is given belo --- Selling price .... $26 /kg --- Sales .......... 84600 kg --- Finished goods (beginning)... 11880 --- Finished goods (ending.......... 16880 Manufacturing costs: -- Variable....... --- Fixed.......... $8/kg $310000/year Selling and administrative expenses: --- Variable............ ..... $3 /kg --- Fixed........ $290000 /year Prepare (a) Income statement using absorption costing. (b) Income statement using variable costing. (c) Reconciliation of net operating income (d) Explain the differences in net operating income between the two methods. (a) Absorption costing income statement Details $ $ numeric response text response (-) Cost of goods sold: text response text response text response numeric response numeric response numeric response numeric response numeric response Gross Income text response text response text response numeric response numeric response numeric response numeric response Net Income - - - - - - - - - - - $ $ $ $ numeric response (b) Variable costing income statement Details text response (-) Variable costs: Variable cost of goods sold text response text response text response numeric response numeric response numeric response numeric response numeric response text response text response text response text response numeric response numeric response numeric response numeric response Net Income - $ (c) Reconciling the net income of the two methods Details Net Income in variable costing text response Net income in absorption costing numeric response numeric response numeric response - 1