7 The following data are from the accounting records of Niles Castings for year 2 85,000 1.5 points Skipped Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs $280,000 70,000 37,000 16,000 40,000 14,500 35,000 eBook Required: a. Prepare a gross margin income statement b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a gross margin income statement, Gross Margin Income Statement IS Required B > Mc 7 The following data are from the accounting records of Niles Castings for year 2 85,000 1.5 points Skipped Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs $280,000 70,000 37,000 16,000 40,000 14,500 35,000 eBook Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a gross margin income statement. Gross Margin Income Statement HA Required B > M