C&C Sports Continuing Problem 2-28 UNIVERSAL SPORTS EXCHANGE Income Statement 52 Weeks Ended February 1, 2017 Per Unit $20.00 Ratio 100% $1,039,500 14.80 $769,230 62,370 Sales Less: variable expenses Cost of goods sold Sales commissions Total variable expenses Contribution margin Less: fixed expenses Selling Administrative Total fixed expenses Operating income 74% 6% 80% 20% 831,600 207,900 116,500 51,500 168,000 39,900 $ Answer the following: What is Universal Sports Exchange's operating profit equation? (Round answers to 2 decimal places, e.g. 52.75.) = operating profit LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO If Universal Sports Exchange sells 55,000 jerseys, what total expense will be reported on the income statement? Total expenses LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO