Crane Inc. had sales of $2,350,000 for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $939,000 $459,000 Selling expenses 114,000 55,000 Administrative expenses 88,000 116,000 Prepare a CVP income statement for the quarter ended March 31, 2020. CRANE INC. CVP Income Statement For the Quarter Ended March 31, 2020