The Robinson Company sells sports decals that can be personalized with a player"s name, team name, and jersey number for $5 each. Robinson buys the decals from a supplier for $1.50 each and spends an additional $0.50 in variable operating costs per decal. The results of last month"s operations are as follows:
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Sales
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$10,000
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Cost of goods sold
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3,000
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Gross profit
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7,000
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|
Operating costs
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2,500
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|
Operating income
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$ 4,500
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Required
Prepare a contribution format income statement for the Robinson Company.