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

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 division using the contribution margin format.