East Coast Supply Company has 3 separate distribution channels, telephone sales, online sales, and the retail store. For the past year East Coast Supply reported the following results: Sales $805,500 Variable expenses 358,800 Contribution margin 446,700 Fixed expenses 340,000 Operating income 106,700

Management provided the following additional information for the three distribution channels:

Telephone Online Retail store Sales 283,500 $357,000 $165,000 Variable expenses as a percentage of sales 50% 40% 45% Traceable fixed expenses 106,000 112,000 98,000 Required

Prepare a contribution format income statement for the year segmented by distribution channel