Activity #1: Using tab AWYHL 8.1 in the week 8 Excel templates, create a contribution margin income statement and identify total contribution margin, unit contribution margin, and contribution margin ratio. Time to Go is a manufacturer of digital watches. The company sells their watches for $35. The cost of goods sold is $15 per watch. It costs $4.25 per watch for shipping and handling. $0.75 of utilities are used in creating, assembling and packing each watch. The administrative costs are $180,000 per year, selling expenses are $45,000 per year plus $1.00 per watch, and insurance is $15,000 per year. The company sold 25,000 watches Create a contribution margin income statement with columns for total values, per unit values, and percentages. From the statement, identify the total contribution margin, the unit contribution margin, and the contribution margin ratio