- App - Snorra Grandt MS Out.comMer Gbonetes The 4 x 4 Shop is a large retailer of equipment for pickup trucks. An income statement for the company's bed liner department for the most recent quarter is presented below: Income Statement for First Quarter of Current Year Sales 700000 250000 450000 Cost of goods Sold Gross Margin Selling and administrative expenses: Selling expenses Administrative expenses Net Operating Income 195000 145000 170000 The liners sell, on average, for $350 each. The department's variable selling expenses are $35 per liner sold. The remaining selling expenses are fixed. The administrative expenses are 25% variable and 75% fixed. The company purchases its liners from a supplier at a cost of $125 per liner Time left 0:29:19 MacBook Air The 4 x 4 Shop is a large retailer of equipment for pickup trucks. An income statement for the company's bed liner department for the most recent quarter is presented below. 700000 250000 450000 Income Statement for First Quarter of Current Year Sales Cost of goods Sold Gross Margin Selling and administrative expenses: Selling expenses Administrative expenses Net Operating Income 195000 145000 110000 The liners sell, on average, for $350 each. The department's variable selling expenses are $35 per liner sold. The remaining selling expenses are fixed. The administrative expenses are 25% variable and 75% fixed. The company purchases its liners from a supplier at a cost of $125 per liner