The income statement for the RUN-42386 company, an atletic shoe retailer, for the first quarter of the year is presented below: RUN-42386 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 selling expenses are $25 per athletic shoe, end 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 RUN-42386 for the first quarter? How much is the total contribution margin for RUN-42386 for the first quarter? Multiple Choice $285,760 $220,800 $87,360 $205,760