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Cute Cats is a specialty pet gift shop seling exotic pet-related items online. The shop has no physical location. Results for last yoar are shown
Cute Cats is a specialty pet gift shop seling exotic pet-related items online. The shop has no physical location. Results for last yoar are shown next EIB (Click the icon to view the resuls.) For intemal planning and decision-making purposes, the owner of Cute Cats would like to translate tho company's income statement into the contribution margin format. Since Cute Cats is online only, all of its cost of goods sold is variable. A large portion of the selling and marketing expenses consists of freight-out charges (\$19,200), which were also variable. Only 20% of the remaining selling and marketing expenses and 25% of the wobsite expenses were variable. Of the other operating expenses, 90% were fixed. Based on this information, prepare Cute Cats' contrbution margin income statement for last year. Data table
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