Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow.2014 2015Sales($46per unit) . $920,000 $1,840,000Cost of goods sold($31 per unit) $620,000 $1,240,000Gross margine 300,000 600,000Selling and administrative expenses 290,000 340,000Net income $ 10,000 $260,000Additional Informationa. Sales and production data for these first two years follow.. 2014 . 2015Units produced 30,000 . 30,000Units sold 20,000 40,000b. Variable cost per unit and total fixed costs are unchanged during 2014 and 2015. The company's $31 per unit product cost consists of the following. Direct materials $5Direct labor 9Variable overhead 7Fixed overhead ($300,000/30,000units) 10Total product cost per unit.. $31c.2014 2015Variable selling and administration expenses $50,000 $100,000fixed selling and administration expenses 240,000 240,000Total selling and administration expenses 290,000 340,000Required1. Prepare income statements for the compony for each of its first two years under variable costing.2. Explain any difference between the absorption costing income and the variable costing income foe these two year