Sales revenue Cost of goods sold (all variable) Gross margin Selling expenses (20% variable) Administrative expenses (60% variable) Operating income $47,971 24,537 23,434 7,762 11,972 $ 3,700 Your answer is partially correct. Try again Prepare a contribution format income statement for Mary. (Round answers to 0 decimal places, e.g. 5,250.) Sales Revenue 47971 Variable Expenses Cost of Goods Sold 24537 Selling Expense 1552.40 7183.20 Administrative Expense Total Variable Expenses Contribution Margin Fixed Expenses Selling Expense Administrative Expense Total Fixed Expenses Operating Income 14698.40 3700