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The Crane Company sells sports decals that can be personalized with a players name, team name, and jersey number for $20 each. Crane buys the
The Crane Company sells sports decals that can be personalized with a players name, team name, and jersey number for $20 each. Crane buys the decals from a supplier for $6 each and spends an additional $1 in variable operating costs per decal. The results of last months operations are as follows:
Sales revenue | $ | 19,000 | ||
Cost of goods sold |
| 3,861 | ||
Gross profit | 15,139 | |||
Operating expense |
| 2,818 | ||
Operating income | $ | 12,321 |
Prepare a contribution format income statement for the Crane Company. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, 5,725.)
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