Russell Inc. had sales of $2,200,000 for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $920,000 $440,000...

Russell Inc. had sales of $2,200,000 for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses.

                                                                    Variable                      Fixed

Cost of goods sold                                $920,000                    $440,000

Selling  expenses                                    70,000                            45,000

Administrative  expenses                       86,000                            98,000

Prepare a CVP income statement for the quarter ended March 31, 2017