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 Sales Revenue ($300 per Coat) Cost of Goods Sold ($100 per Coat) Gross Profit Operating Expenses VARIABLE COST Operating Income 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. CONTRIBUTION MARGIN Rent Expense Selling Expense Administrative Expense 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 SALES REVENUE FIXED COSTS AMOUNT $300,000 $100,000 $200,000 OPERATING INCOME / PROFIT $12,000 $24,000 $50,000 $114,000 SHOW WORK HERE