I need help completing this homework assignment.Use the given information provided in the Full vs Var Costing Problem Sheet in the Excel document to complete the Income Statement Solution Sheet.

Pennsylvania Manufacturing Company Absorption (Full) Costing Income Statement For the Year Ended December 31, 2020 Sales Computations: Sales: 2,500 * $3 = $7,500 Pennsylvania Manufacturing Company Variable Costing Income Statement For the Year Ended December 31, 2020 $ 7,500 Sales Computations: Sales: 2,500 * $3 = $7,500 $ 7,500 Pennsylvania Manufacturing Company Absorption (Full) vs. Variable Costing PROBLEM Information For the Year Ended December 31, 2020 Required: Using the data provided, prepare typed income statements under absorption costing and variable costing on the form provided at the first tab in this workbook. See the "Notes" below the data regarding income statement format. Pennsylvania Manufacturing Company manufactures horse hair brushes that sell for $3.00 each. Production, sales, and cost data for 2020 are provided below. Production Information: Finished Goods, January 1, 2020 Units produced Units sold Cost Information: Direct materials per unit Direct labor per unit Variable factory overhead per unit Total variable factory cost per unit Fixed factory overhead 0 3,000 2,500 $ 0.20 0.09 0.15 0.44 2,100.00 Variable marketing per unit sold Fixed selling and administrative costs 0.80 700.00 NOTES: For absorption costing, use the traditional (generally accepted accounting principles) income statement format. Sales - Cost of goods sold = Gross margin Gross margin - Operating expenses = Operating income For variable costing, use the contribution margin income statement format. Sales - Variable costs = Contribution margin Contribution margin - Fixed costs = Operating Income Aside: Changing the format of the inocme statemetn does NOT change operating income, but changing rom absorption to variable costing does. In other words, when operating income changes, it is because we changed how we do the costing, not because you changed how we lay out the income statement