The Alpine House, Inc. is a large retailer of winter sports equipment. Here is an income statement for the company's Ski department for a recent quarter:

THE ALPINE HOUSE, INC.

Income Statement$-$Ski Department

For the Quarter Ended March $31$

Sales

Less: Cost of goods sold

Gross margin

Less: Operating expenses:

Selling expenses $$60,000$

Administrative expenses

Net income

$20,{000}_{?}=\frac{80,000}{\text{\$}90,000}$

On average, skis sell for $$800$ per pair. Variable selling expenses are $$50$ per pair of skis sold. The remaining selling expenses are fixed. The administrative expenses are $17\mathrm{.}5\%$ variable and $82\mathrm{.}5\%$ fixed. The company does not manufacture its own skis; it purchases them from a supplier for $$450$ per pair.

Required:

Prepare a contribution margin income statement for the quarter.

$\backslash$table$[[$THE ALPINE HOUSE, INC.,$],[$Contribution Margin Income Statement$-$Ski Department,$],[$For the Quarter Ended March $31,,],[$Less: Variable expenses:,,$],[$Cost of goods sold,,$],[,,],[,,],[,,],[,,],[$Less: Fixed expenses:,,$],[,,],[,,],[,,]]$