Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Required: 1. Prepare an income statement for each year based on full costing. 2. Prepare an income statement for each year based on variable costing. 3. Prepare a reconciliation of the difference each year in the operating income resulting from using the full costing method and variable costing method. Prepare an income statement for each year based on full costing. (Enter your answers in thousands of dollars.) \begin{tabular}{|l|l|l|} \hline & YALE COMPANY \\ \hline & Variable Costing \\ \hline Income Statement \\ \hline Available for sale & \\ \hline & \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. Prepare a reconciliation of the difference each year in the operating income resulting from using the full costing method and variable costing method. (Negative amounts should be indicated by a minus sign. Round your "Fixed overhead rate" answers to 2 decimal places. Enter your answers in thousands of dollars.)