question 8

An income statement for Sam's Bookstore for the first of the 50:12 Sam's Bookstore Income Statement Tor Quarter Ended March 31 Sales Cont of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income 5550.000 670.000 290.000 $100,000 120.000 220.000 62.000 On average, a book sells for $60. Variable selling expenses are 55 per book w termining willing en bent the expenses are 4% of sales with the remainder being fiwe. The contribution margin for Sam's Bookstore for the first garters 5:59 Multiple Choice $210,000 $841,600 $171,600 $788,400