Wolsh Company manufoctures and sels one product. The following information pertains to each of the company's first two years of operations: During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. Duting its second year of eperations, if produced 40,000 units and sold 50,000 units. The selling price of the company's product is $53 per unit Required: 1 Assume the compony uses varuble costing a Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 2 Assume the compary uses absorption costing a. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2. 3. Reconcile the difference between vanable costing and absorption costing net operating income in Year 1 Complete this question by entering your answers in the tabs below. Reconcile the difference between variable costing and absorption costing net operating income in Year 1. (Enter ary losses or deducrions as a negative value.)