Refer to the Renaud Drycleaners in E6-43B. Assume that Renaud charges customers $8 per garment for dry cleaning. Prepare Renaud€™s projected income statement if 4,280 garments are cleaned in March. First, prepare the income statement using the traditional format; then, prepare Renaud€™s contribution margin income statement.

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3,000 Garments 4,500 Garments 6,000 Garments Total variable costs Total fixed costs Total operating costs $3,375 Variable cost per garment Fixed cost per garment Average cost per garment 2.20