Walsh Company manufactures and sells one product. The following information pertalns to each of the company's first two years of operations: Duting its first year of operations, Walsh produced 50.000 units and sold 40.900 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling pice of the company's product is $51 per unit. Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2. 2. Assume the company uses absorption costing: a. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2. 3. Reconcile the difference between variable costing and absorption costing net operating income in Year 1 . Complete this question by entering your answers in the tabs below. Assume the company uses variable costing. Compute the unit product cost for year 1 and year 2 . Assume the company uses variable costing. Prepare an income statement for Year 1 and Year 2 . Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Year 2 . (Round decimal places.) Assume the company uses absorption costing. Prepare an income statement for Year 1 and Year 2 . (Round your intermediate calculations to 7 decimal places.) Reconcile the difference between variable costing and absorption costing net operating income in Year 1 . (Ein deductions as a negative value.)