$ 782.500 579,050 203,450 Sales revenue Cost of goods sold Gross margin Operating expenses Selling expense Administrative expense Net operating income $ 24,890 49,710 74,600 $ 128,850 Sheridan sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales. (a) Your answer is partially correct. Prepare a contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other answers to decimal places, e.g. 5,275.) Per Unit $ 782.500 $ 250 Sales Revenue Variable Expenses Cost of Goods Sold 579,050 Selling Expense Administrative Expense $ Total Variable Expenses Contribution Margin > $ Fixed Expenses Selling Expense Administrative Expense Total Fixed Expenses Operating Income $