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Please explain how the fixed expenses are calculated along with filling in all the blanks. Thank you! Precious Pets is a specially pet gift shop

image text in transcribedPlease explain how the fixed expenses are calculated along with filling in all the blanks. Thank you!
Precious Pets is a specially pet gift shop selling exotic pot-related items online. The shop has no physical location Results for last year are shown next (Click the icon to view the results) For internal planning and decision-making purposes, the owner of Precious Pets would like to translate the company's income statement into the contribution margin format Since Precious Pets 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 ($19.000), which were also variable Only 20% of the remaining seling and marketing expenses and 25% of the website expenses were variable of the other operating expenses, 90% were foxed. Based on this information, prepare Precious Pets' contribution margin income statement for last year Contribution Margin Income Statement For the Year Ended December 31 Data Table Sales revenue Variable expenses Cost of goods sold Precious Pets Vanable selling and marketing expenses Traditional Income Statement(Absorption Costing Other variable operating expenses For the Year Ended December 31 $ 1,005 000 Salos even Total variable expenses 065.000 Contribution margin Less Cont of goods sold 330,000 Loss Gross profil Fixed expenses Fixed seling and marketing expenses Loss operating expenses $ Soling and marketing expenses 66000 Fixed website maintenance expenses Website manance expenses 59,000 Other fixed operating expenses 17400 142.400 Other operating expenses Operating income 150.000 Operating income 1011 101 Choose from any list or enter any number in the input fields and then Print Done All parts showing

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