J Bryant, Ltd. is a local coat retailer. The stores accountant prepared the following income statement for the month ended January 31. Sales revenue $ 750,000 Cost of goods sold 300,000 Gross margin 450,000 Less operating expenses Selling expense $ 23,560 Administrative expense 49,500 73,060 Net operating income $ 376,940 Bryant sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.5 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales. Partially correct answer. Your answer is partially correct. Try again. Prepare a contribution format income statement for January. (Round units to 0 decimal places, e.g. 5,275. Round unit cost to 2 decimal places, e.g. 12.25 and all other answers to 0 decimal places, e.g. 45,000.) Per Unit Entry field with correct answer $Entry field with correct answer 750000 $Entry field with incorrect answer now contains modified data 3000 Entry field with correct answer Entry field with correct answer: Entry field with correct answer Entry field with correct answer 300000 Entry field with incorrect answer now contains modified data 1200 Entry field with correct answer Entry field with correct answer 19500 Entry field with correct answer 6.5 Entry field with correct answer Entry field with correct answer 37500 $Entry field with correct answer 12.5 Entry field with correct answer Entry field with correct answer 357000 Entry field with incorrect answer now contains modified data 119 Entry field with correct answer Entry field with correct answer 393000 $Entry field with incorrect answer now contains modified data 131 Entry field with correct answer Entry field with correct answer: Entry field with correct answer Entry field with correct answer 4060 Entry field with correct answer Entry field with correct answer 12000 Entry field with correct answer Entry field with correct answer 16060 Entry field with correct answer $Entry field with correct answer 376940 Partially correct answer. Your answer is partially correct. Try again. Using the format y = mx + b, develop a cost formula for total expenses. (Round unit cost to 2 decimal places, e.g. 12.25 and all other to 0 decimal places, e.g. 45,000.) Operating expenses = $Entry field with incorrect answer now contains modified data 19 x + $Entry field with correct answer 16060 Incorrect answer. Your answer is incorrect. Try again. If 2,700 coats are sold next month, what is the expected total contribution margin? (Round answer to 0 decimal places, e.g. 45,000.) Contribution margin $Entry field with incorrect answer 39221