Patricia's Quilt Shoppe sells homemade Mennonite quilts Patricia buys the quilts from local Mennonite artisans for $ 350 each, and her shop sells them for $ 410 each Patricia also pays a sales commission of 4 of sales revenue to her sales staff Patricia leases her country-style shop for $ 1,075 per month and pays $ 1,450 per month in payroll costs in addition to the sales commissions Patricia sold 75 quilts in February Prepare Patricia's traditional income statement and contribution margin income statement for the month.

Prepare a contribution margin income statement