Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice-Fragrant, White, and Loonzain. Budgeted sales by product and in total for the coming month are shown below: Product White 48% Loonzain 32% Total 100% Fragrant Percentage of total sales Sales Variable expenses 20% $302,400 100% $126,000 100% $201,600 100% $630,000 100% 90,720 30% 100,800 80% 110,880 55% 302,400 48% $211,680 70% $25,200 20% $90,720 45% 327,600 52% Contribution margin Fixed expenses 228,280 Net operating income $ 99,320 $228,280--$439,000 -Fixe expenses CM ratio Dollar sales to break even - 0.52 As shown by these data, net operating income is budgeted at $99,320 for the month and break even sales at $439,000 Assume that actual sales for the month total $630,000 as planned. Actual sales by product are: White $201,600; Fragrant, $252,000; and Loonzain, $176,400 Required 1. Prepare a contribution format income statement for the month based on actual sales data Gold Star Rice, Ltd Contribution Income Statement Product Fragrant White Loonzain Total Percentage of total 01%| $ 01%