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) Sales Commissions (per dollar of sales) $ 29.00 9.50% Administrative Salaries (per quarter) $ Rent Expense (per quarter) $ Depreciation Expense (per quarter) $ SSS 45,000.00 27,000.00 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 Sales commissions Total variable expenses Contribution margin Fixed expenses: Adminstrative salaries Rent expense Depreciation expense Total fixed expenses Net operating income