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Could someone answer for me this question. Thank you in advance TIIUNILILIUM ent for the com- EXERCISE 3-4 Contribution Format Income Statement (L04) The Alpine

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TIIUNILILIUM ent for the com- EXERCISE 3-4 Contribution Format Income Statement (L04) The Alpine House, Inc., is a large retailer of winter sports equipment. An income statement for the pany's Ski Department for a recent quarter is presented below: The Alpine House, Inc. Income Statement-Ski Department For the Quarter Ended March 31 $150,000 90,000 60,000 Sales........ Cost of goods sold..... ...... Gross margin......... Selling and administrative expenses: Selling expenses..... Administrative expenses ....... Net operating income ............. $30,000 10,000 40,000 $ 20,000 Skis sell, on the average, for $750 per pair. Variable selling expenses are $50 per pair of skis sold. The remaining selling expenses are fixed. The administrative expenses are 20% variable and 80% fixed. The company does not manufacture its own skis; it purchases them from a supplier for $450 per pair Required: 1. Prepare a contribution format income statement for the quarter. 2. For every pair of skis sold during the quarter, what was the contribution toward covering fixed expenses and toward earning profits

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