The following Income statement was drawn from the records of Butler Company, a merchandising firm: BUTLER COMPANY Income Statement For the Year Ended December 31, 2014 Sales revenue (6.500 units x $168) $1,092,000 Cost of goods sold (6.500 units $85) (552,500) Gross margin 539,500 Sales commissions (10% of sales) (109,200) Administrative salaries expense (83,000) Advertising expense (37,000) Depreciation expense (42,000) Shipping and handling expenses (6,500 (13,000) units $2) Net Income $ 255,300 Required a. Reconstruct the Income statement using the contribution margin format. BUTLER COMPANY Income Statement For the Year Ended December 31, 2014 Less: Variable costs Less: Fixed costs