Comparative Income Statement Three Months Ending March 31, 2013 January 6,000 $690,000 $414,000 $276,000 February 8,000 $920,000 $552,000 $368,000 March 10,000 $1,150,000 $690,000 $460,000 36 Sales in Units 37 Sales Revenue 38 Cost of Goods Sold(100% Va 39 Gross Margin 40 Selling & Administrative Expenses: 21 Shipping Expense 22 Advertising Expense 43 Salaries & Commission Expe 44 Insurance Expense 45 Depreciation Expense 26 Total Selling & Administrative 47 Net Operating Income $34,000 $65,000 $110,000 $12,000 $5,000 $226,000 $50,000 $42,000 $65,000 $125,000 $12,000 $5,000 $249,000 $119,000 $49,000 $65,000 $135,000 $12,000 $5,000 $266,000 $194,000 79 Required: 50 1. Using the high-low method, separate the mixed expenses (Shipping Expense and Salaries and Commission Expense) 51 into variable and fixed components 52 2. Redo the company's income statement at the 10,000 unit level of activity using the contribution approach format