Whitman Company has just completed its first year of operations. The company's absorption costing income statement for the yeat follows: The company's seling and administrative expenses consest of $285,000 per year in fixed expenses and 55 per unit sold in variable expenses. The $22 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. Redo the company's incofne statement in the contribution format using variable costing- Complete this question by entering your answers in the tabs below. 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. (Enter any losses or deductions as a negative value.)