Elementary Math LLC started its operations on January 1 2025. The LLC produces a single product and reports the following cost information for 2025 and 2026 Variable Cost / Unit: 2025 2026 Direct Materials $15 $19 $18 $20 Direct Labor Variable Overhead $12 $13 Variable Selling $14 $16 Fixed Costs in total: $198,000 Fixed overhead Fixed Selling $161,000 $158,000 $132,000 In 2025, the LLC produced 22,000 units and sold 15,000 units In 2026, the LLC produced 23,000 units and sold 28,000 units The selling price was $90 / unit both years. a.) Calculate the amount of net income reported in their 2025 income statement using variable costing. b.) Calculate the dollar amount of finished goods inventory that would appear for December 31, 2025 balance sheet using absorption costing. c.) Calculate the amount of gross profit reported in their 2026 income statement using absorption costing. Assume they use a LIFO inventory cost flow assumption