Lovable Lions is a specialty pet gift shop selling exotic pet-related items online. The shop has no physical location. Results for last year are shown next: (Click the icon to view the results.) For internal planning and decision-making purposes, the owner of Lovable Lions would like to translate the company's income statement into the contribution margin format. Since Lovable Lions is online only, all of its cost variable. A large portion of the selling and marketing expenses consists of freight out charges $20,200 which were also variable. Only 20% of the remaining seling and marketing expenses and 25% of the website expens the other operating expenses, 90% were fixed. Based on this information, prepare Lovable Lions' contribution margin income statement for last year Data Table Less: Lovable Lions Traditional Income Statement (Absorption Costing) For the Year Ended December 31 Sales revenue Less: Cost of goods sold Gross profit Less operating expenses: S 1,014,000 665,000 S 349,000 Less: Selling and marketing expenses Website maintenance expenses Other operating expenses 64,500 55,500 18,200 138,200 Choose from any list or enter any number in the input fields and then click Check Answer. S 210,800