Whalum Corporation Ltd. prepares external financial statements using absorption costing and internal financial statements using variable costing. You have the following information regarding the operations of Whalum for the past b. Sales in units (@$45 per unit) Production in units C. Variable production costs per unit Fixed production costs Fixed marketing costs Beginning inventory $ SsSsS $ $ $ $ $ 20x3 35,000 $ 40,000 $ 25 $ 400,000 $ 400,000 150,000 $150,000 20x4 40,000 35,000 25 Required - a. Prepare absorption costing income statements for the years ended December 31, 20x3 and 20x4. ? Prepare variable costing income statements for the years ended December 31, 20x3 and 20x4. Prepare a reconciliation for the year-to-year differences in net income under the two methods.