Traditional Income Statement Sales Cost of Goods Sold Gross Profit Selling & Admin Expenses Operating Income 840,000 760,000 80,000 25,000 55,000 Contribution Income Statement Sales Total Variable Costs Contribution Margin Total Fixed Costs Operating Income 885,000 463,500 421,500 321,500 100,000 Nevin's Cost of Goods Sold was 60% variable and 40% fixed. The Selling and Administrative Costs were 30% variable and 70% fixed Cnnvert_fhe traditional income statement to a contribution income statement by filling in the statement above, on the right 2 3 Using the contribution income statement, calculate the contribution margin ratio 'Nhat is Nevin point in revenue? How much revenue would be necessary to make an operating income of $100,000?