Axtary Erachter Sam - Chapter 14 Ar heame statement for Sam's Bookstore for the first quarter of the year is presented below. 3. San's Bookstore Income Statement Por Quarter Ended March 31 $960,000 670,000 290,000 Sales Cost of goods sold Gross surgin Selling and administrative expenses Selling Administration Met operating income $108,000 120,000 228,000 $ 62,000 On nerage, a book seis for $60 . Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4 of sales with the remainder being fixed. The combibutoa margin for Sam's Bookstore for the first quarter is: Metale Chance o O $20.000 0. $941600 o $11600 o $788,400