Precious Pets is a specialty pet gift store selling exotic pet-related items through its website. Precious Pets has no physical store: all sales are through its website. Results for last year are shown next EE (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 web-based, all of its cost of goods sold is variable. A large portion of the selling and marketing expenses consists of freight-out charges (S20,800). 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. Based on this information, prepare Precious Pets' contribution margin income statement for last year. Precious Pets Contribution Margin Income Statement For the Year Ended December 31 Less Less