Instructions On March 31, the end of the first month of operations, Sullivan Equipment Company propared the following income statement, based on the variable conting concept Sullivan Equipment Company Variable Costing Income Statement For the Month Ended March 31 1 Sales (50.000 units) 56,750,000.00 Variable cost of goods sold 3 Variable cost of goods manufactured $2,400,000.00 4 (400,000.00) 5 Inventory March 31 (10,000 units) Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin 2,000,000.00 $4,750,000.00 1,550,000.00 53,200,000.00 Fed costs: 5610,000.00 10 Feed manufacturing costs 1 Fixed selling and administrative expenses Totalfixed costs 478,500.00 1.058,500.00 13 Income from operations $7.111.500.00 2 Labels For the Month Ended March 31 March 31 Amount Descriptions Contribution margin Cost of goods manufactured Cost of goods sold Fixed manufacturing costs Fixed selling and administrative expenses Gross profit Income from operations Inventory, March 31 Loss from operations Manufacturing margin 3 4 5 6 7 8 Sales Selling and administrative expenses Total cost goods sold Variable cost of goods manufactured Variable cost of goods sold Variable selling and administrative expenses Preswom come tutornant and abronion conting. Folor to the visa of Label and Amount Descriptions for the react wording of the answer chokes box tant entries. Be sure to complete the statement heading Acalon wat may appear Youred Ente al amounts as positive numbers. Round your cost per unit answer to two decimal places and final answers to meet whole ola Sutivan. Einent Company Absorption Costing Income Statement Labe 2 1 4