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 $336,000 201,600 134,400 $67,200 22,400 89,600 $ 44,800 Skis sell, on average, for $1,500 per pair. Variable selling expenses are $174 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. $ 336,000 Crazy Canucks Income Statement-Crazy Canucks For the Month Ended January 31 Sales Variable expenses: Cost of goods sold $ 201,600 Selling expenses Administrative expenses Contribution margin Fixed expenses: Selling expenses Administrative expenses Operating income 201,600 134,400 $ 0 $ 134,400 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 174 pairs of skis were sold? Total contribution margin