EXERCISE3-4 Contribution Format Income Statement [L04] The Alpine House, Inc., is a large retailer of winter sports equipment. An in pany's Ski Department for a recent quarter is presented below: The Alpine House, Inc. Income Statement-Ski Department For the Quarter Ended March 31 Sales . $150,000 Cost of goods sold . 90,000 Gross margin . 60,000 Selling and administrative expenses: Selling expenses .$30,000 Administrative expenses .10,000 40,000 Net operating income . $ 20,000 Skis sell, on the average, for $750 per pair. Variable selling expenses are $50 per pair of skis sold. The remaining selling expenses are fixed. The administrative expenses are 20% variable and 80% fixed. Thecompany does not manufacture its own skis; it purchases them from a supplier for $450 per pair. Required: 1. Prepare a contribution format income statement for the quarter. 2. For every pair of skis sold during the quarter, what was the contribution toward covering fixed and toward earning profits