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The Central Valley Company is a manufacturing firm that produces and sells a single product. The company's revenues and expenses for the last four months are given below. Central Valley Company Comparative Monthly Income Statements March April May June 00:56:50 Sales in units 6, 600 6, 100 6,850 6,900 Sales revenue $844, 800 $780, 800 $876,800 $883, 200 Less: Cost of goods sold 426, 700 401, 206 434, 450 442,060 Skipped Gross margin 418, 100 379, 600 442, 350 441,209 Less: Operating expenses Shipping expense 77, 100 72, 606 80, 100 79, 000 Advertising expense 86,090 86, 000 86,000 861903 EBOOK Salaries & commissions 194, 900 178, 100 195, 600 196, 509 Insurance expense 10, 600 10, 600 10,600 16,600 Depreciation expense 55, 000 55,000 55,000 Total operating expenses 423 609 402, 300 427, 300 427 100 Net income $ (5, 500) $ (22,700) $ 15,050 $ 14, 160 Required: 1. Management is concerned about the losses experienced during the spring and would like to know more about the cost behaviour Develop a cost equation for each of the costs.Net income $ (5,500) $ (22,700) $ 15, 050 $ 14, 108 Required: 1. Management is concerned about the losses experienced during the spring and would like to know more about the cost behaviour. Develop a cost equation for each of the costs. 00:56:42 COGS Skipped Shipping Salaries and commissions X LeBook 2. Using the cost equations, prepare a contribution margin income statement in good form) for September when 6,800 units are expected to be sold CENTRAL VALLEY COMPANY Contribution Income StatementCENTRAL VALLEY COMPANY Contribution Income Statement For the month ended September 30 Variable costs Using cost equations prepare a Less fixed costs contribution margin income statement (in good form) for September when 6,800 units are S expected to be sold