Coronado Sports sells volleyball kits that it purchases from a sports equipment distributor. The following static budget based on sales of 2,500 kits was prepared for the year. Fixed operating expenses account for 75% of total operating expenses at this level of sales. Sales Revenue Cost of goods sold (all variable) $ 250,000 147,500 Gross margin 102,500 Operating expenses 60,000 Operating income $ 42,500 Prepare a flexible budget based on sales of 1,200, 2,700, and 3,920 units. (Round unit values to 2 decimal places e.g. 15.25 and all other answers to O decimal places, e.g. 1525. If operating income is negative, enter amounts using a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Sales revenue Less Variable expenses Operating expenses Contribution margin Operating income Unit $ $ $ 1,200 2,700 120000 $