The income statement for the RUN-97745 company, an atletic shoe retailer, for the first quarter of the year is presented below: RUN-97745 Income Statement $ 151,200 54,600 96,600 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $45,400 29,096 74,496 $ 22,104 On average, an athletic shoe sells for $72. Variable selling expenses are $14 per athletic shoe, and the remaining selling expenses are fixed. The variable administrative expenses are 8% of sales with the remainder being fixed. How much is the total contribution margin for RUN-97745 for the first quarter? Multiple Choice $139,104 $121,800 $55,104 $109,704