For an answer to be graded as correct, you must use an Excel formula:

Begin each formula with an = sign.

Reference cells, instead of entering values.

Example: =B3+C3

\begin{tabular}{|l|c|c|} \hline \multicolumn{1}{|c|}{ A } & B \\ \cline { 2 - 3 } 1 & & \\ \hline 2 & Jay Corporation has decided to prepare contribution income statem \\ 3 & & \\ \hline 4 & Budgeted information for Quarter 1 of 2024: & \\ \hline 5 & Sales in units & 17,000 \\ \cline { 2 - 3 } & Sales price per unit & $48.00 \\ \cline { 2 - 4 } & & \end{tabular} After analyzing expenses, the company has determined the following cost patterns. \begin{tabular}{|l|r|r|} \hline 9 & Cost of Goods Sold (per unit) & $29.00 \\ \cline { 2 - 3 } 10 & Sales Commissions (per dollar of sales) & 9.50% \\ \cline { 2 - 3 } 11 & Administrative Salaries (per quarter) & $45,000 \\ \cline { 2 - 3 } 12 & Rent Expense (per quarter) & $27,000 \\ \cline { 2 - 3 } 13 & Depreciation Expense (per quarter) & $36,000 \\ \cline { 2 - 3 } & & \end{tabular} Shipping has been determined to be a mixed cost with the following total costs and units: Variable shipping cost per unit Total fixed shipping cost $3.30$25,750 Use the data to answer the following. Prepare a contribution margin income statement for Quarter 1 of 2024