Required information Exercise 19-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 The following information apples to the questions displayed below] Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 unit at a price of $120 per unit. Exercise 19-3 (Algo) Part 2b 2b. Assume the company uses variable costing. Prepare its income statement for the year under varlable costing. Exercise 19-3 (Algo) Part 2b 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing