An income statement for Sam's Bookstore for the first quarter of the year is presented below:

On average, a book sells for $$60.$ Variable selling expenses are $$5$ per book with the remaining s administrative expenses are $3\%$ of sales with the remainder being fixed.

The net operating income using the contribution approach for the first quarter is:

Multiple Choice

$$ $$58,000$

$$ $$190,000$

$$ $$163,000$