Paige Inc has the following information for its first year of operations: 
a. Prepare Paige's full absorption costing income statement.
b. Prepare Paige's variable costing income statement.
Definitions:
T-Bill
Short for Treasury Bill, a short-term government securities issued with a maturity of less than one year, considered a safe investment.
Interest Rates
They are the charges lenders impose on borrowers for the use of financial assets, restated here to highlight their critical role in finance and borrowing.
Simple Interest
Interest is calculated merely on the principal or on what part of the principal is still owed.
T-Bill
Short for Treasury Bill, a short-term government security issued at a discount from the face value and maturing at par.
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