BH (Cick the icon to view the results.) For internal planning and decision-making purposes, the owner of Fabulous Famigos would like to translate the company's income statement into the contribution margin format Since Fabulous Flamingos is online only los cost of goods sold is variable. A large portion of the wing and marketing expenses consists of freight-out charges ($19,500), which were also variable. Only 20% of the remaining selling and marketing expenses and 25% of the website expenses were variable of the other operating expenses, 90were fixed. Based on this information prepare Fabulous Flamingos contrbution margin income statement for last year Fabulous Flamingos Contribution Margin Income Statement For the Year Ended December 31 Sales revenue Choose from any list or enter any number in the input fields and then continue to the next question Fabulous Flamingos Traditional Income Statement (Absorption Costing) For the Year Ended December 31 Sales revenue $ Less: Cost of goods sold Gross profit $ Less operating expenses: 1,014,000 671,000 343,000 Print Print [Done Data Table 671,000 $ 343,000 Less: Cost of goods sold Gross profit Less operating expenses: Selling and marketing expenses Website maintenance expenses 62,500 60,000 17.400 $ Other operating expenses 139,900 203,100 Operating income Print Done .. . UIUUS I layUS 15 U TU Ully, dll UI IIS LUSIUI 9 expenses consists of freight-out charges ($19,500), which were also variable. Only 20 website expenses were variable. Of the other operating expenses, 90% were fixed. Ba margin income statement for last year. Fabulous Flamingos Contribution Margin Income Statement For the Year Ended December 31 Sales revenue less: Variable expenses Choose from any list or enter any number in the input fields and then continue to contnbution margin format. Since Fabulous Flamingos is online only, all of i expenses consists of freight-out charges ($19,500), which were also variabl website expenses were variable. Of the other operating expenses, 90% wel margin income statement for last year. Sales revenue Less: Variable expenses Cost of goods sold Variable selling and marketing expenses I Variable website maintenance pynences Choose from any list or enter any number in the input fields and then co. TIL VI In-out charges ($19,500), which were also variable. On website expenses were variable. Of the other operating expenses, 90% were fixe margin income statement for last year. Other variable operating expenses Total variable expenses Less: Fixed expenses Fixed selling and marketing expenses Fived woheita maintenance avNoncoe Choose from any list or enter any number in the input fields and then continue Click the icon to view the results.) For internal planning and decision-making purposes, the owner of Fabulous contribution margin format. Since Fabulous Flamingos is online only, all of it expenses consists of freight-out charges ($19,500), which were also variabl website expenses were variable. Of the other operating expenses, 90% wer margin income statement for last year. Fixed selling and marketing expenses Fixed website maintenance expenses Other fixed operating expenses Operating income Choose from any list or enter any number in the input fields and then con Previous