J. Bryant, Ltd., is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31st. Bryant sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales. Prepare a revised income statement using the Contribution Margin format. J. Bryant, Ltd., is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31st. Bryant sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales. Prepare a revised income statement using the Contribution Margin format