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  3. presented here is the income statement for fairchi

Presented here is the income statement for Fairchild Co. for March: Sales $ 78,000 Cost...

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Accounting

Presented here is the income statement for Fairchild Co. for March: Sales $ 78,000 Cost of goods sold 40,000 Gross profit $ 38,000 Operating expenses 31,000 Operating income $ 7,000 Based on an analysis of cost behavior patterns, it has been determined that the company's contribution margin ratio is 32%. Required: a. Rearrange the preceding income statement to the contribution margin format

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