What is Universal Sports Exchange's operating profit equation? (Round answers to 2 decimal places, e.g. 15.25.) UNIVERSAL'S CONTRIBUTION FORMAT Income Statement 52 Weeks Ended February 1, 2014 Per Unit Ratio Sales $1,039,500 $20.00 100% Less: variable expenses Cost of goods sold $769,230 14.80 74% Sales commissions 62,370 1.20 6% Total variable expenses 831,600 16.00 80% Contribution margin 207,900 $ 4.00 20% Less: fixed expenses Selling 116,500 Administrative 51,500 Total fixed expenses 168,000 Operating income 39,900