The following information pertains to Questions 5 and 6 An income statement for spur Bookstore for the first quarter of the year is presented below: Spur Bookstore Income Statement For the quarter ended March 31 On average, a book sells for $40. Cost of goods sold reflects the cost of books variable). Variable selling expenses are $3 per book, with the remaining selling expenses being fixed. The variable administrative expenses are $2 per book, with the remainder being fixed. Spur's total contribution margin for the first quarter is: $144,000. $157, 500. $756,000. $774, 500. How many books does Spur must sell to make operating income of $25,000 for the first quarter? 8, 247 books. 9, 753 books. 13, 667 books. 16, 643 books