Crazy Canucks is a small, family owned retailer specializing in alpine ski and snowboard equipment located in Squamish, B.C. An income statement for the ski department's most recent month is shown below. CRAZY CARUCKS Income Statement-crazy Canucks For the Month Ended January 31 Sale $351,000 Coat of goods sold 210.600 Gross margin 140,400 Selling and administrative expenses: Selling expenses 570.200 Administrative expenses 23,400 93.600 Operating income 46.800 Skis sell, on average, for $1,500 per pair. Variable selling expenses are $184 per pair of skis sold. The remaining selling expenses are fixed. The administrative expenses are 20% variable and 80% fixed. The company purchases its skis from several suppliers at an average cost of $900 per pair Required: 1. Prepare an income statement for the month using the contribution approach. Crazy Canucks Income Statement-Crazy Canucka For the Month Ended January 31 Variable expenses 0 $ 0 Fixed expenses: 0 $ 0 2. For every pair of skis sold during January, what was the contribution toward covering fixed expenses and toward earning profits? Contribution margin per pair 3. What would the total contribution margin be in a month where 184 pairs of skis were sold? Total contribution margin