J Coronado, Ltd. is a local coat retailer. The stores accountant prepared the following income statement for the month ended January 31: Sales revenue $ 759,000 Cost of goods sold 394,680 Gross margin 364,320 Operating expenses Selling expense $ 23,770 Administrative expense 50,710 74,480 Net operating income $ 289,840 Coronado 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. (a) Prepare a contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Per Unit select an income statement item Sales Revenue $enter a dollar amount 759,000 $enter a dollar amount 250 select an opening name for section one Variable Expenses : select an income statement item Cost of Goods Sold enter a dollar amount 384680 enter a dollar amount select an income statement item Selling Expense enter a dollar amount 23770 enter a dollar amount select an income

statement item Administrative Expense enter a dollar amount 50710 $enter a dollar amount 74480 select a closing name for section one Total Variable Expenses enter a total amount for section one enter a total amount per unit for section one select a summarizing line for the first part Contribution Margin enter a total amount for the first part $enter a total amount per unit for the first part select an opening name for section two Fixed Expenses : select an income statement item Selling Expense enter a dollar amount select an income statement item Administrative Expense enter a dollar amount select a closing name for section two Total Fixed Expenses enter a total amount for section two select a closing name for this statement Operating Income $enter a total amount for this statement