Bricf Exercise 5-7 Russell Inc. had sales of $2,410,000 for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold Selling expenses Administrative expenses 940,000 109,000 97,000 $466,000 72,000 106,000 Prepare a CVP income statement for the quarter ended March 31, 2017 RUSSELL INC. CVP Income Statement For the Quarter Ended March 31, 2017 Variable Costs Contribution Margin #1 Fixed Costs Net Income/(Loss) > LINK TO TEXT