Walsh Company manufictures and selis one product. The following information pertains to each of the company's first two years of operations During its first year of operations. Walsh produced 50.000 units and sold 40,000 units. During its second year of opergations, It produced 40.000 units and sold 50,000 units. The selling price of the company's product is $59 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 ntatement for Year 1 and Year 2 2. Assume the compony 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. Reconcle the difference between variable costing and absorption costing net operating income in Year 1. Assume the company uses variable costing. Compute the unit product cost for year 1 and y Accume the compary uses variable costing. Prepare an income staternent for Yea Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Year? dedmal places.) Acsume the company uses absorption costing. Prepare an income statemen calculations to 2 decimal places.) Reconcile the difference between variable costing and absorption conting net operating income in Year 1. (Enter any losses of doductions as a hegative value.)