Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Trenton Products, Inc, are as follows: a. Prepare an income statement based on fult absorption costing. Only use a negative sign with your answer for net income (loss). if the answer represents a net loss, Otherwise, do not use negative signs with any answers. Round answers to the nearest whole number, when applicable. a. Prepare an income statement based on full absorption costing Only use a negative sign with your answer for net income (loss), if the answer represents a net loss, Otherwise, do not use negative signs with any answers. Round answers to the nearest whole number, when applicable. b. Prepare an income statement based on variable costing. Only use a negative sign with your answer for net income floss), if the answer represents a net loss. Otherwise, do not use negative signs with any answers. Round answers to the nearest whole number, when applicable. c. Assume that you must decide quickly whether to accept a special one-time order foc: 1,000 units for $84 per unit. Which income statement presents the most relevant data? Determine the apparent profit or loss on the special order based solely on these data. Use a negative sign with your answer if the special order creates an apparent loss. Round answer to the nearest whole number. d. If the ending imventory is destroyed by fire, which costing approach would you use as a basis for filing an insurance claim for the fire loss? Why? Select the most appropriate statement. hasorption costing approach because the cost should include a reasonable portion of fixed manufacturing costs. hariable costing approach because the cost should include a reasonable portion of fixed manufacturing costs