Question 3 of 7

Question 3 of 7 Restate the following income statement for a merchandising company in contribution format. 0.77 / 2 Sales ($20 per unit) Less cost of goods sold ($16 per unit) Gross margin Less operating expenses Commissions ($0.70 per unit) Salaries Operating income $420 900 Sales Less Total Fixed Cost Contribution Margin Less Total Variable Cost Commissions Operating Income $12,000 9,600 2,400 1,320 $1,080 240000 153600 86,400 1194 85206