Milan Company reports the following information for March: E: (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate the gross profit and operating income for March using absorption costing. Milan Company Income Statement (Absorption Costing) Data Table For the Month Ended March 31 $ Net Sales Revenue Variable Cost of Goods Sold Fixed Cost of Goods Sold 72,500 14,360 12,100 11,500 6,200 Variable Selling and Administrative Costs Fixed Selling and Administrative Costs Print Done Operating Income Requirement 2. Calculate the contribution margin and operating income for March using variable costing. Milan Company Income Statement (Variable Costing) Data Table For the Month Ended March 31 Net Sales Revenue $ 72,500 Variable Cost of Goods Sold 14,360 12,100 Fixed Cost of Goods Sold 11,500 Variable Selling and Administrative Costs Fixed Selling and Administrative Costs 6,200 Print Done Operating Income