Question: How do I solve the income statement Anthony Herrera recently fulfilled his long-time dream of opening a gym that offers spinning exercise classes for $10

How do I solve the income statement

How do I solve the income statement Anthony
Anthony Herrera recently fulfilled his long-time dream of opening a gym that offers spinning exercise classes for $10 per person. To differentiate his gym and better serve his clients, Anthony provides a towel, a bottle of water, and an after-workout protein shake to each person participating in a class, at a cost of $2.65 per person. Anthony employs four part-time instructors and pays them each $1,500 per month. He also pays himself a monthly salary of $6,500. Anthony's other monthly costs are $1,800 for rent, $1,350 for depreciation on his 30 bikes, and $1,425 in utilities and insurance. (a) What is Anthony's contribution margin per unit? (Round answer to 2 decimal places, e.g. 52.75.) Contribution margin $ 7.35 per unit (b) What is Anthony's contribution margin ratio? (Round answer to 2 decimal places, e.g. 52.75.) Contribution margin ratio 73.5 % (c) Prepare Anthony's monthly contribution format income statement. Assume that he teaches 4,500 clients. (Round per unit values to 2 decimal places, e.g. 52.75 and all other answers to O decimal places, e.g. 1,234.) Per Unit Chapter 2 Problems Question 1 of 7 > 45 =

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