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 Canucks For the Month Ended January 31 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Operating income $ 300,000 180,000 120,000 $60,000 2e, eee 80,000 $ 40,000 Skis sell, on average for $1,500 per pair Variable selling expenses are $150 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 FC net of monde enti FC ten