Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc, are as follows: a. Prepare an income statement bused on full abspoption costirie. Only tse a neegotive sign with your answer for net income fossl if the answer represerits a net loss orherwhe, do not use negative signs with any answers. Found answers to the nearest whole number, when applicable b. Prepare an insomin satement bayed on yariable costine to the nearest whole number, when applicable. c. Assume that you must decide quickly whether to accept a special one-time order for 1,000 units for $45 per unit: Which income statement presents the most relevant data? Determine the apparent profit or loss on the special order based solely on these data. Use a negative sign with your answer if the special order creates an apparent loss. Round answer to the nearest whole number. d. If the ending inventory is destroyed by fire, which costing approach would you use as a basis for fiiling ah insurance claim for the fire loss? Why? Select the most appropriate statement. Absorption costing approach because the cost should include a reasonable portion of fixed manufacturing costs, Variable costing approach beciuse the cost should inctude a reasonable portion of fixed manufacturing costs