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Preston Dry Cleaners has capacity to clean up to 7,500 garments per month. (Click the icon to view the cost schedule.) Assume that Preston charges customers $9 per garment for dry cleaning. Prepare Preston's projected income statement if 4,360 garments are cleaned in March. First, prepare the income statement using the traditional format; then, prepare Preston's contribution margin income statement. Begin by preparing the projected income statement using the traditional form Cost schedule Preston Dry Cleaners Projected Income Statement Month Ended March 31 4,500 6,000 7,500 Garments Garments Garments $ 5,250 Total variable costs Total fixed costs 3,150 $ 14,400 4,200 $ 14,400 14,400 S 17,550 $ 18,600 $ 19,650 Total operating costs 0.70 $ 0.70 $ Variable cost per garment S Fixed cost per garment 0.70 1.92 3.20 2.40 $ 3.90 $ 3.10 $ 2.62 Average cost per garment Print Done Preston Dry Cleaners has capacity to clean up to 7,500 garments per month. E (Click the icon to view the cost schedule.) Assume that Preston charges customers $9 per garment for dry cleaning. Prepare Preston's projected income statement if 4,360 garments are cleaned in March. First, prepare the income statement using the traditional format; then, prepare Preston's contribution margin income statement. Begin by preparing the projected income statement using the traditional format. (Use a minus sign or parentheses to indicate a deduction or loss.) Preston Dry Cleaners Projected Income Statement Month Ended March 31 Dry cleaning revenue Gross profit Less: Fixed costs Less: Operating costs Less: Variable costs Operating income (loss) Payroll costs Sales commissions Hel Get More Help Clear All Check Answe Preston Dry Cleaners has capacity to clean up to 7,500 garments per month. E (Click the icon to view the cost schedule.) Assume that Preston charges customers $9 per garment for dry cleaning. Prepare Preston's projected income statement if 4,360 garments are cleaned in March. First, prepare the income statement using the traditional format; then, prepare Preston's contribution margin income statement. Begin by preparing the projected income statement using the traditional format. (Use a minus sign or parentheses to indicate a deduction or loss.) Preston Dry Cleaners Projected Income Statement Month Ended March 31