he following income statement is provided for Shaylee Company for the current year:

Sales revenue (3,400 units $20.90 per unit)	$	71,060
Cost of goods sold (variable; 3,400 units $8.90 per unit)		(30,260	)
Cost of goods sold (fixed)		(4,900	)
Gross margin		35,900
Administrative salaries		(6,900	)
Depreciation		(4,900	)
Supplies (3,400 units $2.90 per unit)		(9,860	)
Net income	$	14,240

What amount was the company's contribution margin?

Multiple Choice

• $40,800

• $30,940

• $14,240

• $35,900