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The annual data that follow pertain to Rick's Radical Eyewear, a manufacturer of swimming goggles. (Rick's Radical Eyewear had no beginning Finished Goods Inventory in January.) (Click the icon to view the data.) Read the requirements. Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Rick's Radical Eyewear for the year ended December 31. 2. Which statement shows the higher operating income? Why? 3. Rick's Radical Eyewear's marketing vice president believes a new sales promotion that costs $70,000 would increase sales to 130,000 goggles. Should the company go ahead with the promotion? Give your reasoning. The annual data that follow pertain to Rick's Radical Eyewear, a manufacturer of swimming goggles. (Rick's Radical Eyewear had no beginning Finished Goods Inventory in January.) (Click the icon to view the data.) Read the requirements. Data table in (variable costing) inc nediary calculations to statement for the year The annual data that follow pertain to Rick's Radical Eyewear, a manufacturer of swimming goggles. (Rick's Radical Eyewear had no beginning Finished Goods Inventory in January.) (Click the icon to view the data.) Read the requirements. Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Rick's Radical Eyewear for the year ended December 31. 2. Which statement shows the higher operating income? Why? 3. Rick's Radical Eyewear's marketing vice president believes a new sales promotion that costs $70,000 would increase sales to 130,000 goggles. Should the company go ahead with the promotion? Give your reasoning. The annual data that follow pertain to Rick's Radical Eyewear, a manufacturer of swimming goggles. (Rick's Radical Eyewear had no beginning Finished Goods Inventory in January.) (Click the icon to view the data.) Read the requirements. Data table in (variable costing) inc nediary calculations to statement for the year