C & C Sports Continuing Problem 2-28 UNIVERSAL'S CONTRIBUTION FORMAT Income Statement 52 Weeks Ended February 1, 2014 Per Unit Ratio Sales $1,039,500 $20.00 100% Less: variable expenses Cost of goods sold Sales commissions $769,230 62,370 14.80 1.20 16.00 S 4.00 74% 6% 80% 20% Total variable expenses Contribution margin Less: fixed expenses 831,600 207,900 Selling Administrative 116,500 51,500 Total fixed expenses Operating income 168,000 $ 39,900 Answer the following