The Museum of Fine Art is preparing for its annual appreciation dinner for contributing members. Last year, 500 members attended the dinner. Tickets for the dinner were $30 per attendee. The profit report for last year's dinner follows. (Click the icon to view the profit report.) This year the dinner committee does not want to lose money on the dinner. To help achieve its goal, the committee analyzed last year's costs. Of the $16,000 cost of the dinner, $8,500 were fixed costs and $7,500 were variable costs. Of the $2,500 cost of invitations and paperwork, $1,750 were fixed and $750 were variable. Read the requirements. Requirement 1. Prepare last year's profit report using the contribution margin format. (Use parentheses or a minus sign when entering losses.) Ticket sales Variable cost of dinner Gross margin 15000 7500 Fixed invitations and paperwork 5775