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The following income statements are provided for Li Company's last two years of operation: The following income statements are provided for Li Company's last two

The following income statements are provided for Li Company's last two years of operation:

The following income statements are provided for Li Company's last two years of operation:

2012

2013

Number of units produced and sold

4,500

4,100

Sales revenue

$69,750

$63,550

Cost of goods sold

41,700

38,000

Gross margin

28,050

25,550

General, selling and administrative expenses

17,500

16,300

Net income

$10,550

$9,250

Assuming that cost behavior did not change over the two year period, what is Li Company's contribution margin in 2013?

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