Brief Exercise 22-07 Oriole Inc. had sales of $2,260,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $925,000 $461,000 Selling expenses 74,000 91,000 Administrative expenses 109,000 100,000 Prepare a CVP Income statement for the quarter ended March 31, 2020. ORIOLE INC. CVP Income Statement For the Quarter Ended March 31, 2020