Gorgeous Gorillas is a specialty pet gift shop selling exotic pet-related items online. The shop has no physical location. Results for last year are shown next: Click the icon to view the results.) For internal planning and decision- making purposes, the owner of Gorgeous Gorillas would like to translate the company's income statement into the contribution margin format. Since Gorgeous Gorillas is online only, all of its cost of goods sold is variable. A large portion of the selling and marketing expenses consists of freight-out charges ($19,500), which were also variable. Only 20% of the remaining selling and marketing expenses and 25% of the website expenses were variable. Of the other operating expenses, 90% were fixed. Based on this information, prepare Gorgeous Gorillas' contribution margin income statement for last year. Gorgeous Gorillas Contribution Margin Income Statement For the Year Ended December 31 Less: Less: i - X Data Table A B 1 Gorgeous Gorillas 2 Traditional Income Statement (Absorption Costing) For the Year Ended December 31 4 Sales revenue $ 985,000 5 Less: Cost of goods sold 670,000 6 Gross profit $ 315,000 7 Less operating expenses: 8 Selling and marketing expenses $ 62,500 9 Website maintenance expenses 55,500 Other operating expenses 18,000 136,000 11 Operating income $ 179,000 10