Help Seve ER Sur An income statement for Sam's Bookstore for the first quarter of the year is presented below! Sam' Bookstore Income Statement For Quarter Ended March 31 Salou Cost of goods sold Gross margin Selling and administrative expenses Selling $ 116,000 Administrative 136.000 Net operating income $ 840,000 545,000 295,000 252,000 $ 43,000 On average, a book sells for $60. Variable selling expenses are $4 per book with the remaining selling expenses being fixed. The variable administrative expenses are 36 of sales with the remainder being fixed The contribution margin for Sam's Bookstore for the first quarter ist Multiple Choice $239,000 $213.800 $750.800 5626,200