SoHo Co. produces and sells a jeweled handbag to retail stores in the New York area. In 2022, the company sold 51,000 units of the handbag. Sales and costs for that level of sales is as follows:

Sales $2,040,000

Variable costs 1,632,000

Contribution margin 408,000

Fixed costs 127,500

Net income 280,500

Required: For 2023, the company expects total sales to be 70,000. Prepare a contribution margin income statement at this level. Assume no change in unit sales price or unit variable cost. (Round your figures to whole dollars).