Problem 2-25 Waterway, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31: Sales revenue $ 782,500 Cost of goods sold 379,000 Gross margin 403,500 Operating expenses Selling expense $ 23,590 Administrative expense 49,530 73,120 Net operating income $ 330,380 Waterway 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.) Per Unit Sales Revenue $ 782500 $ 250 Variable Expenses Cost of Goods Sold 379000 Selling Expense 20397 Administrative Expense 39125 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 + $ LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO If 3,000 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 LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO