3 The income statement for the RUN-97173 company, an atletic shoe retailer, for the first quarter of the year is presented below: RUN-97173 Income Statement 8 01:23:39 $213, 200 80,600 132,600 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $70, 400 34,792 105, 192 $ 27, 408 On average, an athletic shoe sells for $82. Variable selling expenses are $19 per athletic shoe, and the remaining selling expenses are fixed. The variable administrative expenses are 6% of sales with the remainder being fixed. How much is the total contribution margin for RUN-97173 for the first quarter? Multiple Choice $151,008 $163,800 $200,408 $70,408