Please answer this 2 part question. Thanks!

Required information [The following information applies to the questions displayed below.) Oak Mart, a producer of solid oak tables, reports the following data from its second year of business. $ 310 per unit 105,000 units 108,750 units 3,750 units $ 506,250 262,500 768,750 $ Sales price per unit Units produced this year Units sold this year Units in beginning-year inventory Beginning inventory costs Variable (3,750 units x $135) Fixed (3,750 units x $70) Total Manufacturing costs this year Direct materials Direct labor Overhead costs this year Variable overhead Fixed overhead Selling and administrative costs this year Variable Fixed $ 50 per unit 68 per unit $3,000,000 $7,400,000 $1,400,000 4,600,000 1. Prepare the current-year income statement for the company using variable costing. OAK MART COMPANY Variable Costing Income Statement Beginning inventory Manufacturing costs this year 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)