Exercise 19-5 Absorption costing and variable costing income statements LO P2 Rey Company's single product sells at a price of $225 per unit. Data for its single product for its first year of operations follow. 1. Prepare an income statement for the year using absorption costing 2. Prepare an income statement for the year using variable costing. Prepare an income statement for the year using absorption costing. Prepare an income statement for the year using variable costing