please complete steps on excel sheet an explanation. Thank you.

Five Macaws is a specialty pet gift shop selling exotic pet-related items online. The shop has no physical location. Results for last year are shown next: For internal planning and decision-making purposes, the owner of Five Macaws would like to translate the company's income statement into the contribution margin format. Since Five Macaws is online only, all of its cost of goods sold is variable. A large portion of the selling and marketing expenses consists of freight-out charges ($19,400), which were also variable. Only 20% of the remaining selling and marketing expenses and 25% of the website expenses were variable. Of the other operating expenses, 90% were fixed. Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab or if you type the numbers in, you will be marked Five Macaws Contribution Margin Income Statement For the Year Ended December 31 Sales revenue Less: Variable expenses Variable cost of goods sold Variable selling and marketing expenses Variable web site maintenance expenses Other variable operating expenses Contribution margin Less: Fixed expenses Fixed selling and marketing expenses Fixed web site maintenances expenses Other fixed operating expenses Operating income