Please answer required 1, 2 & 3.

Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows. 40 per unit 60 per unit $4,200,000 $6,300,000 Manufacturing costs Direct materials Direct labor Overhead conts for the year Variable overhead Fixed overhead Selling and administrative costs for the year Variable - Fixed Production and sales for the year Units produced Units sold Sales price per unit $ 800,000 $4,250,000 105,000 units 75,000 unita 360 per unit $ 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing 3. Under what circumstance(s) is reported income identical under both absorption costing and variable costing? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement for the year using variable costing. 2. Prepare an income stater 3. Under what circumstance(s) is reported income identical under both absorption Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Costing Income Statement Direct labor Direct materials Fixed overhead Fixed selling and administrative costs Sales Net income (loss) Rinud Required 2 > Required 1 Required 2 Required 3 Prepare an income statement for the year using variable costi SIMS COMPANY Variable Costing Income Statement Direct materiais Fixed overhead Fixed selling and administrative costs Sales Variable overhead Variable selling and administrative expenses Net income (loss) Required 1 Required 2 Required 3 o Prepare an income statement for the year using absorption costing. SIMS COMPANY Absorption Costing Income Statement 1:43:23 Direct labor Direct materials Fixed overhead costs Fixed selling and administrative costs Sales Net income (loss)