Cape Breton University Introductory Managerial Accounting Test 1 Acct1204 Karen Rowe 3. The following is the income statement for Daisy's Day Care Limited for the month ended March 31, 2020 Daisy's Day Care Limited Income Statement Month Ended March 31, 2020 $ 20,000 Revenue Expenses: Food Heat and lights Office Supplies Childcare supplies Wages Total expenses Operating income 6,000 800 200 1,000 8,000 16.000 $ 4.000 20% of the childcare supplies and 25% of the wages are fixed while the remaining amounts are variable. 100% of the food expense is variable. Required: Based on the above information what would the operating income for the month ended March 31, 2020 be if the income statement was prepared using the contribution margin approach