Warm Hands, a small company based in Prince Edward Island, manufactures and sells two types of lightweight gloves for runners- Warm and Cozy. Current revenue, cost, and unit sales data for the two products appear below: Selling price per pair Variable expenses per pair Warm $ 5.00 Cozy $ 7.50 $ 1.25 Number of pairs sold monthly 1,500 units $ 3.75 500 units Fixed expenses are $2,340 per month. Required: 1. Assuming the sales mix above, do the following: a. Prepare a contribution format income statement showing both dollars and percentage columns for each product and for the company as a whole. (Round percentage answers to 2 decimal places.) WARM HANDS Contribution Income Statement Warm Cozy Total % % % Sales $ 7,500 100.00 $3,750 100.00 $ 11,250 100.00 Variable expenses Contribution margin 1,875 25.00 1,875 50.00 3,750 33.33 $ 5,625 75.00 $ 1,875 50.00 7,500 66.67 Fixed expenses 2,340 Operating income $ 5,160