Please show work and follow the format so it is easy to follow. thank you so much for your help.

36 Sims Company, a manufacturer of tablet computers. began operations on January 1, 2017, Its cost and sales information for this year follows. Manufacturing costs Direct materials 35 per unit 25 Direct labor $5 per unit points Overhead costs for the year Variable overhead Fixed overhead $3, 380, 608 8 0259:26 Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold 116, bed units Sales price per unit 80. ead units eBook 358 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. SIMS COMPANY Variable Costing Income Statement Net income (loss) Required 2 &gt