You are a division manager at Caddo Co. Below is your division's income statement and other relevant information for the current year:

GAAP Income Statement

Revenue $250,000

Cost of Goods Sold 125,000

Gross Margin

125,000

Administrative Costs 45,000

Selling Costs 55,000

Profit 25,000

Other Relevant Information and Detail on Data in GAAP income statement

Fixed Mfg OH costs $22,000

Variable Mfg OH $0

Fixed Admin costs $45,000

Variable selling costs 3% of revenues

Prepare an income statement in the space below for your divisionusing the contribution margin format.

Please show all work