Please help me solve with an explanation. Thank you so much

An income statement for Colorado Bookstore for the first quarter of the current year is presented below: Colorado Bookstore Income Statement For the First Quarter of the Current Year $750,000 525.000 $225,000 Sales Less cost of goods sold Gross margin Less operating expenses: Selling Administrative Net income $92,500 $92.500 185.000 $ 40,000 On average, a book sells for $50. Variable selling expenses are $5.50 per book with the remaining selling expenses being fixed. The variable administrative expenses are 3% of sales, with the remainder being fixed. The cost formula for operating expenses with "X" equal to the number of books sold is: Y - $84,000 $7.00x Y-$84,000 - $8.50 Y-598.000 + $7.00X nswer Y-598.000 $8.50X wered None of the above