The GAAP income statement for Ivanhoe Company for the year ended December $31,2027,$ shows sales $$930,000,$ cost of goods sold

$$595,000,$ and operating expenses $$250,000.$ Assuming all costs and expenses are $60\%$ variable and $40\%$ fixed, prepare a CVP income

statement through contribution margin.

IVANHOE COMPANY

CVP Income Statement

$

$

Operating Expenses

Total Variable Expenses

Contribution Margin

$