The Skyler Company has the following budgeted revenues and costs based on the production and sales of sense units per year: Amounts per unit Selling price 325% Manufacturing costs: Direct materials 3: direct labor $9.131] Variable overhead $2110 Fixed overhead $5.00 Total manufacturing costs $145.13!) Selling and administrative: Variable selling $1. Fixed administrative sacs Total selling and administrative $T.U The Company produced 31,2513 units but sold only 29.13% units in the year ended Febnlary 23, 2019. The total actual fixed costs were consistent with the budgeted costs noted above. The variable costs per unit and price were consistent with the budget noted above. Beginning inventory of nished goods had 2,1301] units with an absorption cost of $14 per unit ($3.51} direct materials :5: direct labor, $1.5!) variable overhead and $4.013 fixed overhead]. The Skyler Company uses the actual costing and the FIFE!I inventory method. Required: a. Prepare an income statement for the year ended February 28, 212119, assuming that Skyler uses the absorption costing method. {11] marks} b. Prepare an income statement for the year ended February 23, 211119, assuming that Skyler uses the variable costng method. (9 marks) c. Reconcile the variable costing operating income to the absorption costing operating income. {6 marks)