Walton Manufacturing Company makes a product that sells for $$75\mathrm{.}80$ per unit. Manufacturing costs for the product amount to $$27\mathrm{.}00$ per unit variable, and $$77,040$ fixed. During the current accounting period, Walton made $3,600$ units of the product and sold $3,000$ units. Selling and administrative expenses were zero.

Required

Prepare an absorption costing income statement.

Prepare a variable costing income statement.