Required information Exercise 193 (Algo) Income statement under absorption costing and variable costing LO P1, P2 The following informafion applies to the questions alspalayed bejorve] Cool sky reports the following for its first year of operations. The company preduced 44.000 units and scld 36.000 units at a pice of $130 per unit. Exercise 193 (Algo) Part 2b 26. Assume the company uses varlable costing. Prepare its income statemert for the year under variable costing. 2b. Assume the compary uses variable costing. Prepare its income statement for the year under variable costing