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E3-23A (similar to) Question Help Price Dry Cleaners has capacity to clean up to 9,000 garments per month. (Click the icon to view the cost schedule.) Assume that Price charges customers $7 per garment for dry cleaning. Prepare Price's projected income statement if 4,220 garments are cleaned in March. First, prepare the income statement using the traditional format; then, prepare Price's contribution margin income statement. Begin by preparing the projected income statement using the traditional format. Price Dry Cleaners Projected Income Statement Month Ended March 31 Sales commissions 29540 Less: Operating costs 16032 Operating income (loss) 13508 Dry cleaning revenue Gross profit Less: Fixed costs Less: Operating costs Less: Variable costs Operating income (loss) Payroll costs Sales commissions