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Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue $ 55,860 Cost of goods
Mary Smith sells gourmet chocolate chip cookies. The results of her last month of operations are as follows:
Sales revenue $ 55,860 Cost of goods sold (all variable) 28,572 Gross margin 27,288 Selling expenses (20% variable) 8,980 Administrative expenses (60% variable) 11,900 Operating income$6,408
Prepare a contribution format income statement for Mary.
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