Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December 31: Total sales revenue Amount 1,269,000 Selling price per snowboard 470 Variable selling expense per snowboard 45 Variable administrative expanse per snowboard Total fixed selling expense $ 15 340.000 Total fixed administrative expense 310,000 Merchandise Inventory, beginning balance 87,000 Merchandise inventory, ending balance Merchandise purchases Required: 1. Prepare a traditional income statement for the quarter ended December 31. 107,000 344,000 Winter Leisure Traditional Income Statement Quarter ended December 31 Sales Cost of goods sold Gross margin Salling and administrative expenses: Selling expenses Administrative expenses Operating income 0