) Bonita, Ltd. is a local coat retailer. Sales revenue Cost of goods sold Gross margin Operating expenses The store's accountant prepared the following Income statement for the month ended January 31: $ 788,000 366,500 421,500 $ 23,990 Selling expense Administrative expense Net operating income 74,000 347,500 50,010 consist of fixed costs plus a Bonita sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. variable component equal to 5% of sales