PLEASE ANSWER ALL THE QUESTIONS, REQ 1 AB REQ2AB AND REQ 3, DO NOT JUST EXPLAIN, PLEASE FILL IN THE TABLES AND MAKER SUE ALL ANSWERS ARE BOLD EXACTLY HOW THEY SHOULD BE FILLED.

Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company's product is $54 per unit. Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2. 2. Assume the company uses absorption costing: a. Compute the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2. 3. Reconcile the difference between variable costing and absorption costing net operating income in Year 1. Assume the company uses variable costing. Prepare an income statement for Y Walsh Company Income Statement Reconcile the difference between variable costing and absorption costing net operating income in Year 1. Note: Enter any losses or deductions as a negative value