Patsy's Quilt Shoppe sells homemade Amish quilts. Patsy buys the quilts from local Amish artisans for $ 270 each, and her shop sells them for $ 420 each. She also pays a sales commission of 4% of sales revenue to her sales staff. Patsy leases her country-style shop for $ 1 comma 700 per month and pays $ 1 comma 300 per month in payroll costs in addition to the sales commissions. Patsy sold 75 quilts in February. Prepare Patsy's traditional income statement and contribution margin income statement for the month.

Prepare the contribution margin income statement for the month.

Patsy's Quilt Shoppe

Contribution Margin Income

For the monthe Ended February 28

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