Slapshot Company makes ice hockey sticks and sold 1,880 sticks during the month of June at a total cost of $433,000. Each stick sold at a price of $400. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales priceand other selling expense of $65,000. Administrative expense totaled $53,800. Required: Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income statement. Labels and Amount Descriptions Labels Add Less For the Month of June Selling expenses Amount Descriptions Administrative expenses Variable commissions Cost of goods manufactured Cost of goods sold Finished goods inventory Fixed selling expenses Gross margin Operating income Operating loss Sales revenue Total selling expenses Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income statement. Refer to the list of Labels and Amount Descriptions for the exact wording of text within your income statement. Round percentages to one decimal place. Be sure to complete the statement heading. Score: 35/105 Slapshot Company Income Statement For the Month of June 1 Percentage 2 Sales revenue 3 Cost of goods sold 4 Gross margin 5 Less: 6 (Label) 7 8 Fixed selling expenses 9 10