An income statement for Sam's Bookstore for the first quarter of the year is peesented below On average, a book sells for $50. Voriable selling expenses are $4 per book with the remaining selling expenses being fixed. The variable odministrative expenses are 5% of sales with the remainder being foxed. The contribution margin for Sam's Bookstore for the first quarter is: Multiple choice $783.500 $826,500 $166,500 Multiple Choice $783,500 $826,500 $166.500 $214.000