please use terms provided for both statements

The annual data that follow pertain to Rays, a manufacturer of swimming goggles. (Rays had no beginning inventories.) (Click the icon to view the data.) Requirements 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Rays for the year. 2. Which statement shows the higher operating income? Why? Reconcile the difference between the two statements. 3. Rays' marketing vice-president believes a new sales promotion that costs $200,000 would increase sales to 200,000 goggles. Should the company go ahead with the promotion? Give your reason. Data table turer of swimming goggles. (Rays had no beginning contribution margin (variable costing) income statements for ?? Why? Reconcile the difference between the fwo its ; promotion that costs $200,000 would increase saies to h the promotion? Give your reason