mbers File Edit Insert Table Organize Format Arrange View Share Window Chapter1 Insert Table Chart Text Add Category View Zoom Chapter 1 Form 1Chapter 1: Applying Excel Data 4 Sales 6 Variable costs $30,500 $13,500 $4,100 $1,200 6 Cost of goods sold 7 Variable selling 8 Variable administrative 9 Fixed costs $2,500 $1,500 10 Fixed selling 11 Fixed administrative 12 13 Enter a formula into each of the cells marked with a ? below 4 Exhibit 1-7 15 Traditional Format Income Statement 16 17 Sales 18 Cost of goods sold 19 Gross margin 20 Selling and administrative expenses: 21. Selling 22 Administrative 23 Net operating income 24 Contribution Format Income Statement 25 26 Sales 27 Variable expenses 28 Cost of goods sold 29 Variable selling 0 Variable administration 31 Contribution margin 32 Fixed expenses 33Fixed selling Fixed administrative Net operating income