Fontillas Manufacturing Inc. had sales of $2.75 million for the first quarter of 2020. In making the sales, the company incurred the following costs and expenses: Cost of goods sold Variable $913,500 69,500 Fixed $447,500 40,000 Selling expenses Administrative expenses 87,000 98,500 Prepare a CVP income statement for the quarter ended March 31, 2020. FONTILLAS MANUFACTURING INC. CVP Income Statement For the Quarter Ended March 31, 2020 $