Whitman Company has just completed its first year of operations. The company's absorption costing income statement for the year follows: The company's selling and administrative expenses conisist of $210,000 per year in fixed expenses and $2 per unit sold in varlable. expenses. The $16 unit product cost given above is computed as follows: Required: 1. Redo the company's income statement in the contribution format using variable costing: 2. Reconcile any difference between the net operating income on your variable costing income statement and the net operating income on the absorption costing income statement above