Trez Company began operations this year. During this year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows. Additional Information a. Selling and administrative expenses consist of $350,000 in annual fixed expenses and $2 per unit in variable selling and administrative expenses. b. The company's product cost of $25 per unit consists of the following. Required: Prepare an income statement for the company under variable costing. Additional Information a. Sales and production data for these first two years follow. b. The company's $34 per unit product cost (for both years) using absorption costing consists of the following. Required: Prepare a statement to convert variable costing income to absorption costing income for both years. (Leave no cells blank - be certain to enter " 0 " wherever required.)