Special Seals is a specialty pet gift shop selling exotic pet-related items online. The shop has no physical location. Results for last year are shown next: (Click the icon to view the results.) For internal planning and decision-making purposes, the owner of Special Seals would like to translate the company's income statement into the contribution margin format. Since Special Seals is online only, all of its cost of goods sold is variable. A large portion of the selling and marketing expenses consists of freight-out charges ($19,600), which were also variable. Only 20% of the remaining selling and marketing expenses and 25% of the website expenses were variable. Of the other operating expenses, 90% were fixed. Based on this information, prepare Special Seals' contribution margin income statement for last year. Data Table 996000 A B Special Seals Contribution Margin Income Statement For the Year Ended December 31 Sales revenue Less: Variable expenses Variable selling and marketing expenses Variable website maintenance expenses Other variable operating expenses Total variable expenses Contribution margin Less: Fixed expenses Fixed selling and marketing expenses Fixed website maintenance expenses 1 Special Seals 2 Traditional Income Statement (Absorption Costing) 3 For the Year Ended December 31 4 Sales revenue $ 996,000 5 Less: Cost of goods sold 671,000 6 Gross profit $ 325,000 7 Less operating expenses: 8 Selling and marketing expenses $ 61,500 9 Website maintenance expenses 60,500 10 Other operating expenses 18,400 140,400 11 Operating income $ 184,600 Other fixed operating expenses Operating income Print Done