Wonderful Pels is a small e-tail business specializing in the sale of exclic pet gills and accessories over the web. The business is owned by a sole proprielor and operated out of her home. Results for last year are as follows: (Click the icon to view the results.) For internal planning and decision-making purposes, the owner of Wonderful Pets would like to translate the company's income statement into the contribution margin format. Sincs Wonderful Pets is an e-taller, all of its cost of goods sold was variable. A large portion of the selling and marketing expenses cons sted of freight-out charges ($19,500), which were also variable. Only 20% of the remaining selling and marketing expenses and 25% of the website expenses were variable. Of the other operating expenses, 90% were fixed. Based on this information, prepare Wonderful Pets's contribution margin Income statement for last year. Data Table Prepare the Wonderful Pels contribution margin income statement for last year. Wonderful Pets Contribution Margin Income Statement For the Year Ended December 31 Sales revenue $ 987,000 Variable expenses Cost of goods sold 700,000 Variable website maintenance expenses 28,500 Variable website maintenance expenses 15,000 Other variable operating expenses 1,800 Contribution margin Wonderful Pets Income Statement Year Ended December 31 $ s 987,000 700,000) 287,000 Sales revenue Cost of goods sold Gross profil Operating expenses: Selling and marketing expenses Website maintenance expenses Other operating expenses Total operating expenses $ 64.500 60.000 18.000 (142.500) S Operating income 144,500 Print Done Operating income