J Waterway, Ltd. is a local coat retailer. The stores accountant prepared the following income statement for the month ended January 31:

*Problem 2-25 J Waterway, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31: Sales revenue 789,000 Cost of goods sold 385,000 Gross margin 404,000 Operating expenses Selling expense $23,870 Administrative expense 50,000 73,870 330,130 Net operating income Waterway 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 contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other ans wers to 0 decimal places, e.g. 5,275.) Per Unit $ $ Using the format y mx + b, develop a cost formula for total expenses. (Round unit cost to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Operating expenses = $ x $ If 3,200 coats are sold next month, what is the expected total contribution margin? (Round answer to 0 decimal places, e.g. 5,275.) Contribution margin $