Blossom Inc. has sales of $1,600,000 for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $608,000 $480,000 Selling expenses 76,000 48,000 Administrative expenses 63,200 52,800 Prepare a CVP income statement for the quarter ended March 31, 2022. BLOSSOM INC. CVP Income Statement $ $ L $ ^ ^ > ^