Mountain Sports Ltd. Contribution Margin Income Statement For the Year Ended Dec 31, 2019 TOTAL PERCENT Sales $1,897,302 100% Less: Variable Costs (must be listed in alphabetical order): Rent Total variable costs 38.0% Contribution Margin 721,310 Less: Fixed Costs (must be listed in alphabetical order) Advertising Rent TOTAL Operating Income Less: Interest Expense Earnings Before Income Taxd Less: Income Taxes Net Income 175,391 8,000 167,391 35,152 132.239