Here is the income statement for Finch's Bookstore for the first quarter of the year: On average, a book sells for $70. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 3% of sales with the remainder being fixed. What is the contribution margin for Finch's Bookstore for the first quarter? What is the contribution margin for Finch's Bookstore for the first quarter? Multiple Choice $287,700 $622,300 $817,700 $315,000