selling exotic petrelated items online. The shop has no physical location. Results for last year are shown next: L) aking purposes, the owner of Cute Cats 0 Data Table Since Cute Cats is online only, all of its cost of goods sold is variable. A eting expenses consists of freight-out ch expenses and 25% of the website expenses were variable. Of the other Based on this information, prepare Cut ats ncome Statement _x Cute Cats I December 31 Traditional Income Statement (Absorption Costing) For the Year Ended December 31 Sales revenue 993,000 Less: Cost of goods sold 666,000 Gross prot 327,000 Less operating expenses: Selling and marketing expenses 'Dmmmth Website maintenance expenses d O Other operating expenses 139,500 _\\ _n Operating income 35 187,500 umber in the input fields and then click Check Answer. Cute Cats is a specialty pet gift shop selling exotic pet-related items online' The shop has no physical location. Results for last year are shown next: Click the icon to view the results) For intemal planning and decision-making purposes, the owner of Cute Cats would like to translate the company's income statement into the contribution margin format. Since Cute Cats is online only, all of its oost of goods sold is variable. A large portion of the selling and marketing expenses consists of freithaut charges ($20,400), which were also variable. Only 20% of the remaining selling and marketing expenses and 25% of the website expenses were variable. Of the other operating expenses, 90% were xed Based on this information. prepare Cute Cats' contribution margin income statement for last yeah Cute Cats Contribution Margin Income Statement For the Year Ended December 31 Less: Less: Choose from any list or enter any number in the input fields and then click Check