PORCELAIN TABLEWARE COMPANY Product Line Income Statement Bowls Plates Cups $651,000 $262,000 $893,000 (318,000) (272,000) (140,000) Sales Cost of goods sold Gross profit Selling and administrative expenses Operating income (los) $379,000 $575,000 (343,000) (302,000) $122,000 (148,000) $(26,000) $77,000 $232,000 Fixed costs are 42% of the cost of goods sold and 13% of the selling and administrative expenses. Porcelain Tableware assumes that fixed costs would