Jay Corporation has decided to prepare contribution income statements for internal planning. Budgeted information for Quarter 1 of Year 3: Sales in units Sales price per unit 17,000 $ 48.00 After analyzing expenses, the company has determined the following cost patterns. Cost of Goods Sold (per unit) $ 29.00 Sales Commissions (per dollar of sales) 9.50% Administrative Salaries (per quarter) $ 45,000.00 Rent Expense (per quarter) $ 27,000.00 Depreciation Expense (per quarter) $ 36,000.00 1. Prepare a contribution margin income statement for Quarter 1 of Year 3. Jay Corporation Budgeted Income Statement For Year 3, Quarter 1 Sales Variable expenses: Cost of goods sold 29.00