Problem 2-25 1 Crane, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31: Sales revenue Cost of goods sold Gross margin Operating expenses 765,500 305,000 460,500 Selling expense 24,830 385,530 Net operating income Crane sells its coats for $250 each. Selling expenses consist o fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales Prepare a contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other answers to o decimal places, e.g. 5,275) Per Unit LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO Using the format y - mx + b, develop a cost formula for total expenses. (Round unit cost to 2 decimal places, e.g. 52.75 and all other answers to O decimal places, e.g. 5,275.) Operating expenses LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO If 3,500 coats are sold next month, what is the expected total contribution margin? (Round answer to 0 decimal places, e.g. 5,275 Contribution margin $ Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO