Contribution margin statement (LO1). The following is the income statement from Ajax Corporation, a merchandising firm. You learn that $18,000 of transport-in costs are fixed, and that Ajax pays its...

Contribution margin statement (LO1). The following is the income statement from Ajax Corporation, a merchandising firm.

You learn that $18,000 of transport-in costs are fixed, and that Ajax pays its sales persons a commission of 6%. That is, a person selling $1,000 worth of items would earn a commission of $60. All of the administration costs are fixed.

Required:

Prepare an income statement in the contribution margin format.