Sheridan, Ltd is a local coat retailer The store's accountant prepared the following income statement for the month ended January 31 Sales revenue $ 795.000 381,600 413,400 Cost of goods sold Gross margin Operating expenses Selling expense Administrative expense Net operating income $ 24,150 51,800 75,950 $ 337.450 Sheridan sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $ 6,50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales Your answer is correct Prepare a contribution format income statement for January, (Round per unit cost to 2 decimal ploces. e.g. 52.75 and all other answers to o decimal places, c.8. 5,275.) Per Unit Sales Revenue 795000 250 Variable Expenses Cost of Goods Sold 381600 i 120 Selling Expense 20670 i 6.50 Administrative Expense 39750 250 1139 Total Variable Expenses. 442020 Selling Expense 200701 Administrative Expense : 750 $ Total Variable Expenses 2020 15 352980 $ Contribution Margin Fixed Expenses Selling Expense 3400 i Administrative Expense 12050 i Total Fixed Expenses 15530 Operating income 337656 Using the formaty mx + b, develop a cost formula for total expenses. (Round unit cost to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.) Operating expenses + X