Silver Company has asked you to prepare a pro-forma income statement for the coming year. The following information is available:

Expected sales revenue

$\$ 1,240,000$

\section*{Manufacturing costs:}

Variable cost of goods sold . . . . . . . . . . . . . . 625,000 Fixed overhead . . . . . . . . . . . . . . . . . . . . . . . 125,000 Selling expenses:

Variable expenses . . . . . . . . . . . . . . . . . . . . . 140,000 Fixed expenses . . . . . . . . . . . . . . . . . . . . . . . $\quad 45,000$

\section*{Administrative expenses:}

Variable expenses . . . . . . . . . . . . . . . . . . . . . 45,000 Fixed expenses . . . . . . . . . . . . . . . . . . . . . . . . 160,000

\section*{Other:}

Interest expense . . . . . . . . . . . . . . . . . . . . 28,000 Income tax rate . . . . . . . . . . . . . . . . . . . . . $35 \%$

Prepare a pro-forma contribution margin income statement for Silver Company.