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The annual data that follows perlain to Swim Clearly, a manufacturer of swimming googles (the company had no beginning inventory): (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Swim Clearly for the year. Begin with the conventional (absorption cosling) income statement Swim Clearly Income Statement (Absorption Costing) For the Year Ended December 31 Sales revenue $9.945,000 Cost of goods sold X Data table Requirements Gross profit Less: Operating expenses Operating income $ $ 45 $ 20 $ 5 Sales price Variable manufacturing expense per unit Sales commission expense per unit Fixed manufacturing overhead.... Fixed operating expenses Number of goggles produced Number of goggles sold 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Swim Clearly for the year. 2. Which statement shows the higher operating Income? Why? 3. The company marketing vice president believes a new sales promotion that costs $160,000 would increase sales to 235,000 goggles. Should the company go ahead with the promotion? Give your reason. $ 2,820,000 $ 255,000 235,000 221,000 Print Done Print Done Help me solve this Video Get more help Clear all Check