Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit)...
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Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) Less cost of goods sold ($56 per unit) Gross margin Less operating costs: Commissions expense ($5 per unit) $ 2,500 Salaries expense 7,800 Advertising expense Shipping expense ($1 per unit) Operating income 5,800 500 $ 50,000 28,000 22,000 16,600 $ 5,400 Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) Less cost of goods sold ($56 per unit) Gross margin Less operating costs: Commissions expense ($5 per unit) $ 2,500 Salaries expense 7,800 Advertising expense Shipping expense ($1 per unit) Operating income 5,800 500 $ 50,000 28,000 22,000 16,600 $ 5,400
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