Solved: If stanley prepares a contribution margin income statement, Accounting Basics

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If stanley prepares a contribution margin income statement

Stanley's Bicycles store buys bicycles on average for $ 600 and sells them on average for $ 800. He pays a sales commission of 15% of sales revenue to his sales staff. Stanley pays $ 1,500 a month rent for his store, and also pays $ 7,000 a month to his staff in addition to the commissions. Stanley sold 130 bicycles in June. If Stanley prepares a contribution margin income statement for the month of June, what would be his operating income?

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