Corp is a merchandiser just buys and sells books, does not make them is income statement for the second quarter of the year is below -Corp. Income Statement For Quarter Ended June 30 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $930,000 655,000 275,000 $105,000 114,000 219.000 $ 56,000 On average, a book sells for $60 wariable seting expenses are $5 per book with the remaining selling expenses being fixed, variable administrative expenses are 4 of sales with the remainder being fored Q. What is the contribution margin for op for the second quarter? () $815,300 $197,500 $160,300 $769,700