Sales revenue $ 788,000 Cost of goods sold 328,500 Gross margin 459,500 Less operating expenses Selling expense $ 24,370 Administrative expense 49,630 74,000 Net operating income $ 385,500 Bryant sells its coats for $250 each. Selling expenses consist of 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. Collapse question part (a) Prepare a contribution format income statement for January