William's Steel had the following fixed costs: Fixed manufacturing costs Fixed marketing costs Fixed administrative costs $1,108,000 $140,000 $300,000 The company also had the following variable costs: Variable manufacturing $1.980.000 costs Variable marketing costs $ 60,000 Variable administrative $95.000 costs During the year, the company produced and sold 55,000 units of the product at a selling price of $100.00 per unit. The company had no inventory at the beginning of the year. Required: Prepare a contribution margin income statement for the year