7 An income statement for Sams Bookstore for the first quarter of the year is presented below San's Bookstore Income Statement For Quarter Ended March 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling $ 102,000 Administrative 108.000 Het operating Income $900,000 640,000 260,00 be 210,000 $ 50,00 On average, a took case for $80. Variable seting expenses ore 55 per book with the remaining teling expenses being med The variable administrative expenses are dx of sales with tre made being The cost formula for sing and strative expenses with equal to the number of books Mulho CG-5500 MAX OF DOOKS Sold 15. Multiple Choice Y = $86,000 - $5.00X Y586,000 - $740X O =$99.000 - $740% Y $99.000 - $9.80X a X N w