uestion 10 of 10 < > 0.17/1 Using the following income statements, prepare a contribution margin income statement for March. (Round per unit answers to 2 decimal places, e.g. 52.75.) February March Sales revenue $25,000 $37,500 Cost of goods sold 10,000 15,000 Gross profit 15,000 22,500 Rent expense 1,500 1,500 Wages expense 3,500 5,000 Shipping expense 1,100 1.650 Utilities expense 750 750 Advertising expense 1,000 1,400 Insurance expense 585 585 Operating income $6,565 $11,615 Sales Total Per unit 37500 12.50 Variable expenses Cost of goods sold 15000 Shipping 1650 55 Advertising O 1200 40 Wages 4500 1.50 Total variable expenses 22350 7.45 Contribution margin 15150 $ 5.05 Fixed expenses Insurance 585 Rent 1500 Utilities 750 Wages 500 Advertising 200 Total fixed expenses 3535 Operating income $ 11615 eTextbook and Media