Required information Problem 19-1A Variable costing income statement and conversion to absorption costing income (two consecutive years) LO P2, P3 The following information applies to the questions displayed below. Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow. 2016 2017 Sales ($46 per unit) Cost of goods sold ($31 per unit) Gross nargin Selling and administrative expenses Net incone $920,000 $1,840,000 620, 0001,240,000 600,000 290,000340,000 s 10,000 260,000 29 09360,00 300,000 Additional Information a. Sales and production data for these first two years follow. Units produced Units sold 2016 2017 30,000 30,000 20,000 40,000