PART B Bechard Coats is a local specialty coat retailer. The store's accountant, Emily, prepared the following traditional income statement for the month ended January 31, 20Y3. DESCRIPTION AMOUNT Sales Revenue ($300 per Coat) $300,000 Cost of Goods Sold ($100 per Coat) $100,000 Gross Profit $200,000 Operating Expenses Rent Expense $12,000 Selling Expense $24,000 Administrative Expense $50,000 Operating Income $114,000 The selling expense consists of a fixed amount, plus a commission of $6.50 per coat sold. The administrative expense consists of a fixed amount, plus a variable component equal to 6% of sales. Using the information provided, complete the contribution margin income statement for January 20Y3. You are required to show your work in the table below. DESCRIPTION AMOUNT SHOW WORK HERE SALES REVENUE VARIABLE COST CONTRIBUTION MARGIN FIXED COSTS OPERATING INCOME / PROFIT