Russell Inc. had sales of $2,200,000 for the first quarter of 2025 (it sold 220,000 units). In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $920,000 $440,000 Selling expenses 70,000 45,000 Administrative expenses 88,000 98,000 Prepare a CVP income statement for the quarter ended March 31, 2025. (Round per unit answers to 2 decimal places, e.g. 15.25) RUSSELL INC. CVP Income Statement For the Quarter Ended March 31, 2025 Sales Variable Costs Contribution Margin Fixed Costs Net Income/tLoss), Total 2,200,000 1,078,000 i 1.122,000 $ 583,000 539,000 Per Unit 10 Percent of Sales. 100 % %