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Complete Each of the Following Contribution Format Income Statements by Supplying

Question 145

Essay

Complete each of the following contribution format income statements by supplying the missing numbers.
 Blue Co. Red, Inc.  Sales revenue ?$45,000 Variable costs 21,000? Contribution margin 9,00025,000 Fixed costs ?12,000 Operating income 2,500? Income taxes ?4,000 Net income $1,750?\begin{array}{lccc}&\textbf { Blue Co. } && \textbf {Red, Inc. } \\\\\text { Sales revenue } & ? & & \$ 45,000 \\\text { Variable costs } & \underline{21,000} & & \underline{\quad\quad?\quad\quad} \\\text { Contribution margin } & 9,000 & & 25,000 \\\text { Fixed costs } & \underline{\quad\quad?\quad\quad} & & \underline{12,000} \\\text { Operating income } & 2,500 & & ? \\\text { Income taxes } &\underline{\quad\quad?\quad\quad} && \underline{4,000} \\\text { Net income } & \underline{\underline{\$ 1,750}} &&\underline{\underline{\quad\quad?\quad\quad}}\end{array}

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\(\begin{array}{lrrr}
&\textbf {Year 1}&...

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