5 1000 Kootenay Bicycle Company expected to sell 700 bikes at $5,000 per bike for 2020. Variable expenses were expected to be $4,350 a bike and fixed expenses were expected to be $240,000. Actual sales were 650 units, total sales revenue was $3,350,000, total variable expenses were $2,975,000 and fixed expenses were $225,000 A) Prepare an income statement performance report for Kootenay Bicycle Company. (10 marks) 1 x A- B 1 T. Flexible Budget Flexible Budget for actual number Sales Volume Actual results Variance of units Variance Output units Sales Revenue Variable Expenses Fixed Expenses Total Expenses Operating Income Static Budget ABC Corporation purchased and used 25,000 kg oft