Problem 2-25 Sheffield, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31: $ 784,500 342,000 442,500 Sales revenue Cost of goods sold Gross margin Operating expenses Selling expense Administrative expense Net operating income $ 23,840 50,000 73,840 $ 368,660 Sheffield sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales. Prepare a contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Prepare a contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Per Unit Sales Revenue $ 784500 250 Variable Expenses : Cost of Goods Sold 342000 Using the format y = mx + b, develop a cost formula for total expenses. (Round unit cost to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Operating expenses = $ X+ $ If 3,300 coats are sold next month, what is the expected total contribution margin? (Round answer to o decimal places, e.g. 5,275.) Contribution margin $ Click if you would like to Show Work for this question: Open Show Work