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. Skis sell, on average, for $1,500 per pair. Variable selling expenses are $160 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