2. Prepare a contribution margin income statement for Quarter 1 of 2024. (Use cells A4 to C26 from the given information to complete this question. All answers should be input and displayed as positive values.) 1. Using the high-low method, determine a cost formula for shipping csts. Jay Corporation has decided to prepare contribution income statements for internal planning. After analyzing expenses, the company has determined the following cbst patterns. Shipping has been determined to be a mixed cost with the following total costs and units: \begin{tabular}{|l|r|r|} \hline 2022 & \multicolumn{1}{|c|}{ Total Cost } & \multicolumn{1}{c|}{ Units } \\ \hline Quarter 1 & $67,000 & 12,500 \\ \hline Quarter2 & $94,000 & 21,000 \\ \hline Quarter 3 & $89,800 & 13,800 \\ \hline Quarter 4 & $92,600 & 20,000 \\ \hline 2023 & & \\ \hline Quarter 1 & $72,500 & 13,700 \\ \hline Quarter2 & $80,000 & 14,000 \\ \hline Quarter 3 & $84,000 & 14,300 \\ \hline Quarter 4 & $100,000 & 22,500 \\ \hline \end{tabular}