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Paul White, an up-and-coming fashion designer, created a new line of men's fashion socks in response to the growing number of celebrities who are expressing their individuality by replacing traditional navy and black socks with brighter colors and bold patterns. At a sales price of $14 per pair, Paul estimates monthly sales volume will be 24,700 pairs. Variable product costs will be $9.60 per pair and fixed overhead will be $2.00 per pair. Sixty percent of the fixed overhead is directly traceable to the new sock line. To promote the socks, White proposes a $1.22 per pair commission to the company's salespeople and a $11,200 per month advertising campaign. In compliance with corporate policy, the socks will also be allocated $45,200 in fixed corporate support costs. Prepare a monthly income statement that highlights the proposed sock line's segment margin. (Enter negative amounts us a negative sign preceding the number eg.-45 or parentheses eg. (45).) Paul White Monthly Income Statement Sales revenue 345800 Variable expenses 237120 266760 79040 86534 7494 Variable expenses Traceable fixed expenses XX Segment margin Commissions Traceable fixed expenses Contribution margin Variable expenses Advertising Sales revenue Cost of goods sold 29640