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The following data are from the accounting records of Niles Castings for year 2. 81,000 Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs $260,000 67,000 31,000 10,000 45,000 11,500 37,000 Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a gross margin income statement. Gross Margin Income Statement Direct labor costs Direct materials costs Fixed manufacturing overhead costs Gross loss Fixed manufacturing overhead costs Variable marketing and administrative costs Operating profit The following data are from the accounting records of Niles Castings for year 2. 81,000 Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs $260,000 67,000 31,000 10,000 45,000 11,500 37,000 Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a contribution margin income statement. Contribution Margin Income Statement Direct materials costs Fixed manufacturing costs Fixed marketing and administrative costs Contribution margin Variable manufacturing costs Sales revenue Operating profit