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 CANUCKS Income Statement-Crazy Canacks For the Month Ended January 31 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Operating income $339,000 203,400 135,600 $67,800 22,600 90,400 $ 45,200 Skis sell, on average, for $1.500 per pair. Variable selling expenses are $176 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 Canucks For the Month Ended January 31 Vanable expenses