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 $ 303,000 181,800 121,200 $60,600 20,200 80,800 $ 40,400 Skis sell, on average, for $1,500 per pair. Variable selling expenses are $152 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 Variable expenses: Fixed expenses: 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 152 pairs of skis were sold? Total contribution margin