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Grand Canyon company makes commercial posters for a diversified group of its clients. For the month ended December 31, the following information is available: Sales

Grand Canyon company makes commercial posters for a diversified group of its clients. For the month ended December 31, the following information is available:

Sales revenue: 500 posters @ $35 per poster.

Variable expenses: 500 posters @ 21 per poster.

In addition, the company had fixed expenses of $ 6,000.

Requirement

Prepare a contribution margin income statement.

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