Blossom Inc. had sales of $2,210,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Variable $921,000 71,000 87,000 Fixed $441,000 46,000 99,000 Prepare a CVP income statement for the quarter ended March 31, 2020. BLOSSOM INC. CVP Income Statement For the Quarter Ended March 31, 2020 Sales 2210000 Variable costs 921000 Contribution Margin 71000 Fixed Costs 87000 Net Income toss) 1131000