Shown here is an income statement in the traditional format for a firm with a sales volume of 16,500 units:

Shown here is an income statement in the traditional format for a firm with a sales volume of 16,500 units:

Revenues	$181,500
Cost of goods sold ($10,500 + $2.85/unit)	$57,525
Gross profit	$123,975
Operating expenses:
Selling ($2,250 + $1/unit)	$18,750
Administration ($4,600 + $0.35/unit)	$10,375
Operating income	$94,850

Prepare an income statement in the contribution margin format.

Do not copy from Chegg and give complete answer with explanation]

Prepare an income statement in the contribution margin format.