Oriole, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31: $ 779,000 334,500 444,500 Sales revenue Cost of goods sold Gross margin Operating expenses Selling expense Administrative expense Net operating income $ 24,720 51,100 75,820 $ 368,680 Oriole sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales. Your answer is correct. Prepare a contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other answers to o decimal places, e.g. 5,275.) Per Unit 1 Sales Revenue 779000 T 250 Variable Expenses | | Selling Expense 20254 6.5 T Administrative Expense 12.5 38950 334500 T cost of Goods Sold 1 107.35 Total Variable Expenses 393704 126.35 7 Contribution Margin 385296 123.65 Fixed Expenses 1 Administrative Expense 12150 Selling Expense 4466 Total Fixed Expenses 16616 Operating Income 368680 LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO Your answer is correct. Using the format y = mx + b, develop a cost formula for total expenses. (Round unit cost to 2 decimal places, e.g. 52.75 and all other ans places, e.g. 5,275.) 126.35), 16616 Operating expenses = $U LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO x Your answer is incorrect. Try again. If 3,100 coats are sold next month, what is the expected total contribution margin? (Round answer to o decimal places, e.g. 5,275.) 384554 Contribution margin s Click if you would like to Show Work for this question: Open Show Work