The income statement for the presented below: er, or the first quarter of the year is RUN-70560 Income Statement $300, 800 118,400 182,400 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $107,000 43,040 150,040 $ 32,360 On average, an athletic shoe sells for $94. Variable seling expenses are $25 per athletic shoe, and the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales with the remainder being fixed. How much is the total contribution margin for a for the first quarter? Multiple Choice 5285.760 $220,000 5205760 587360