is a specialty pet gift shop selling exotic pet-related items online. The shop has no physical location. Results for last year are shown next:

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(Click the icon to view the results.)For internal planning and decision-making purposes, the owner of

Fabulous Flamingos

would like to translate thecompany's income statement into the contribution margin format. Since

Fabulous Flamingos

is online only, all of its cost of goods sold is variable. A large portion of the selling and marketing expenses consists of freight-out charges

($19,800),

which were also variable. Only 20% of the remaining selling and marketing expenses and 25% of the website expenses were variable. Of the other operating expenses, 90% were fixed. Based on this information, prepare

Fabulous Flamingos'

contribution margin income statement for last year.

Fabulous Flamingos
Contribution Margin Income Statement
For the Year Ended December 31
Less:
Less: