Gail Corporation prepared the following report for the first quarter of this year:

Gail's controller, Leanne Green, studied the costs in detail, particularly focusing on cost behaviour. Her analysis revealed the following:

Fixed portion of the cost of goods sold for the quarter amounted to $$1,022,000.$

Of the selling expenses, $20\%$ was variable with respect to the number of units.

All of the administrative expenses were fixed.

Required:

Express the cost of goods sold and the selling expenses in terms of cost equations. $($Round the "Varlable cost" to $2$ decimal

places.$)$

Redo the above income statement using a contribution margin approach. $($Do not round Intermedlate calculatlons.$)$