Albert, Inc. had the following income statement for last period: Sales Cost of Sales (manufacturing) Selling and General Administrative Net Income $94,500 38,500 7,000 $49,000 If costs of sales was 75% variable and 25% fixed, and Selling and General Expense was 60% variable and 40% fixed, prepare a contribution format income statement and calculate its contribution margin percentage. Note: Do not use a negative sign with your answers. Contribution Margin Income Statement V $ $ V $ = Contribution margin percentage % =