Question 1 The condensed income statement for the Peri and Paul partnership for 2017 is as follows. PERI AND PAUL COMPANY Income Statement For the Year Ended December 31, 2017 $1,200,000 800,000 400,000 Sales (240,000 units) Cost of goods sold Gross profit Operating expenses Selling Administrative $280,000 150,000 430,000 s(30,000) Net loss A cost behavior analysis indicates that 75% of the cost of goods sold are variable, 42% of the selling expenses are variable, and 40% of the administrative expenses are variable (Round to nearest unit, dollar, and percentage, where necessary. Use the CVP income statement format in computing profits.) (a)