Jindal Manufacturing Company provides you with the following income statement.

Jindal Manufacturing Company

Income Statement for the Most Recent Year

Revenue

$2,435,000

Cost of goods sold

1,246,760

Gross margin

$1,188,240

Administration costs

425,000

Selling costs

558,950

Profit

$204,290

You learn that Jindal incurred manufacturing overhead costs of $248,750 for the year and that all of this cost is fixed. Moreover, the only variable selling costs are sales commissions at 5% of revenue. Finally, all administration costs are fixed.

Need an income statement in the contribution margin format. For simplicity, assume that the Jindal began and ended the year with zero inventories of any kind.