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 ($19,200), 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 X Data Table Sales revenue Variable expenses Less Cost of goods sold Gorgeous Gorillas Variable selling and marketing expenses Traditional Income Statement (Absorption Costing) Variable website maintenance expenses For the Year Ended December 31 Other variable operating expenses Sales revenue $ 987,000 Contribution margin 666,000 Less: Cost of goods sold Fixed expenses Less: Gross profit 321.000 Fixed selling and marketing expenses Less operating expenses: Variable website maintenance expenses Selling and marketing expenses $ 64.000 Other fixed operating expenses Website maintenance expenses 60,500 Operating income 17,700 142,200 Other operating expenses 178,800 Operating income Print Done