Russell Inc. had sales of $2,300,000 for the first quarter of 2017. In making the sales, the pay ncued the following costs and expenses. Variable Cost of goods sold Selling expenses Administrative expenses $941,000 104,000 108,000 $474,000 77,000 102,000 Prepare a CVP income statement for the quarter ended March 31, 2017 RUSSELL INC. CVP Income Statement For the Quarter Ended March 31, 2017 Sales 2,300,000