ALPINE, INC. Income Statement For the year ended June 30, 2012 Sales (40,000 Units at $12) $480,000. Less: Cost of Goods Sold Direct Materials Direct Labor Manufacturing Overhead $120,000 65,600. 90,000 275,600 Gross Margin 204,400- Less: Operating expenses: Selling expenses: Variable: Sales Commissions $38,400. Shipping 14,000 52,400 Fixed (Advertising, salaries) 110,000. Administrative expenses: Variable (billing, other) Fixed (salaries, other) 3,200 85,000250,600 Net Loss $(46,200)