Wolsey Industries Inc. Estimated Income Statement For the Year Ended December 31, 20Y3 Sales Cost of goods sold: Direct materials Direct labor Factory overhead Cost of goods sold Gross profit #REF! #REF! #REF! Selling expenses Sales salaries and commissions Travel Miscellaneous selling expense #RE F! Total selling expenses #RE F! Administrative expenses Office and officers' salaries Supplies Miscellaneous administrative expense #RE F! Total administrative expenses #RE F! Total expenses Income from operations #REF! 2. Contribution margin ratio Sales #RE F! Units Unit Variable Cost Variable costs Contribution mar Sales Contribution margin ratio #REF! #REF! #RE F! gin