The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount 1,280,000 Total sales revenue Selling price per pair of skis 400 Variable selling expense per pair of skis 49 Variable administrative expense per pair of skis 16 145,000 Total fixed selling expense 105,000 Total fixed administrative expense Beginning merchandise inventory 65,000 105,000 Ending merchandise inventory 295,000 Merchandise purchases Required 1. Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Net operating income