Exercise 2-57 (Algo) Gross Margin and Contribution Margin Income Statements (LO 2-7) Accounting records for The Ralston Company show the following for the most recent fiscal year: Units produced and sold 59,500 Total revenues and costs Sales revenue $ 370,600 Direct materials costs 95,300 Direct labor costs 47,700 Variable manufacturing overhead 23,900 Fixed manufacturing overhead 61,700 Variable marketing and administrative costs 19,600 Fixed marketing and administrative costs 46,800 Required: Prepare a gross margin income statement. Prepare a contribution margin income statement.