D G Conti Prepare a contribution margin income statement Five Macaws is specialty per gift shop selingi pet related items online. The shop has no physical location Results for a year are shown next Five Maraws Traditional Income Statement (Abortion Corting For the Year Ended December 31 10 5 90.000 72.000 117.000 12 $ Sales revue Los cost of foods to Gross profit Les pertingenes Selling and marketing expenses Website maintenance expenses Other operating expenses Operating income IS 16 55,500 58.000 17.600 5 141.100 175,00 17 For internal planning and decision making purposes, the owner of Five Macaws would like to translate the company income statement into the contribution margin format. Since Five Macaws is online only, all of its cost of goods sold is variable. A large portion of the selling and marketing expenses cost of freghou charges (519.4001, which were also variabile. Only 20% of the remaining selling and marketing penses and 25% of the website expenses were variable of the other operating expenses were fed 21 U the blue shaded areason the ENTERANSWERS tab for inputs. Always we call fences and formulas where appropriate to receive full credit. if you copy/paste from the 22 tab you will be marked wrong 24 Requirements 25 Prepare five Macaws contribution margin income statement for last year Ilmal aaminis rathes for any to be enter H B C D (Always use cell references and formulas where appropriate to receive full credit. If you 1 copy/paste from the Instructions tab you will be marked wrong.) 2 3 Five Macaws 4 Contribution Margin Income Statement 5 For the Year Ended December 31 6 Sales revenue 7 Less: Variable expenses 8 Variable cost of goods sold 9 Variable selling and marketing expenses 10 Variable web site maintenance expenses 11 Other variable operating expenses 12 Contribution margin 13 Less: Fixed expenses 14 Fixed selling and marketing expenses 15 Fixed web site maintenances expenses 16 Other fixed operating expenses 17 Operating income 18 19