Shown here is an income statement in the traditional format for a firm with a sales volume of 19,000 units Revenues Cost of goods sold (S11,500+ $2.75/unit) Gross profit Operating expenses $247,000 63,750 $183,250 Selling ($2,450$0.85/unit) Administration (S4,700$0.40/unit) 18,600 12.300 $152,350 Operating income Required a. Prepare an income statement in the contribution margin format. Contribution Margin Income Statement evenues S 247,000 Variable expenses dministrative expenses t of goods sold elling expenses Total variable expenses ntribution margin 247,000 Fixed expenses ministrative expenses st of goods sold elling expenses Total fixed expenses perating income S 247,000