Thalassines Kataskeves, S.A. Income Statement-Bilge Pump For the Quarter Ended March 31 $440,000 Sales Variable expenses: Variable manufacturing expenses Sales commissions Shipping $136,000 41,000 11,000 Total variable expenses 188,000 Contribution margin Fixed expenses 252,000 Advertising Depreciation of equipment (no 29,000 102,000 resale value) General factory overhead Salary of product-line manager Insurance on inventories Purchasing department 47,000* 128,000 13,000 45,000t Total fixed expenses 364,000