Tesla, Inc. had the following income statement for last period:

Sales

$29,000

Cost of Sales (manufacturing)

11,000

Selling and General Administrative

2,000

Net Income

$16,000

If costs of sales was 70% variable and 30% fixed, and Selling and General Expense was 65% variable and 35% fixed.

Required:

a)how does the contribution format income statement look

b)Calculate its contribution margin percentage.