Looking for help solving this Managerial Accounting question. Thanks!

Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. Sales price per unit 210 per unit Units produced this year 120, 000 units Units sold this year 124, 000 units Units in beginning-year inventory 4, 000 units Beginning inventory costs Variable (4,000 units * $135) $ 540,000 Fixed [4, 000 units * $75) 300, 000 Total $ 840, 000 Manufacturing costs this year Direct materials 50 per unit Direct labor 68 per unit Overhead costs this year Variable overhead $3, 200,000 Fixed overhead $7,000,000 Selling and administrative costs this year Variable $1, 450, 000 Fixed 4, 400,000 1. Prepare the current-year Income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement Sales Less: Variable costs Beginning inventory: Manufacturing costs this year Direct materials Direct labor Variable overhead costs Variable cost of goods sold Less: Ending finished goods inventory Variable cost of goods sold /ariable selling and administrative expenses Total fixed costs 0 Net income Less: Fixed expenses Fixed selling and administrative costs Fixed overhead cost Total variable costs available Net income (loss)2. Prepare the current-year income statement for the company using absorption costing. OAK MART COMPANY Absorption Costing Income Statement Beginning inventory Manufacturing costs this year Net income (loss)