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In: AccountingHuang Company operates with a single product. The followingsimple income statement relates to last year...Huang Company operates with a single product. The followingsimple income statement relates to last year when sales unitstotaled26,500 VariableCosting GAAP Absorption Costing Total $ Per unit$ Total $Sales 530,000 20.00 Sales xVariableCOGS 185,500 7.00 COGS xVariable S&Aexpense 92,750 3.50 Grossmargin xContributionmargin 251,7509.50 S&Aexpenses xFixed Man Ovrhd expenses 121,500 Net operating income xFixed S&Aexpenses 42,000Net operatingincome 88,250Huang Company unit production for the year totaled 27,000.Prepare a GAAP income statement for Huang Company. Reconcile anydifference between the Variable costing and GAAP net operatingincomes.