Stanley’s Bicycles store buys bicycles on average for $ 600and sells them on average for $ 800. He pays a sales commission of 15% of sales revenue to his sales staff. Stanley pays $ 1 comma 900a month rent for his store, and also pays $ 6 comma 000a month to his staff in addition to the commissions. Stanley sold 120bicycles in June. If Stanley prepares a contribution margin income statement for the month of June, what would be his operating income?
Income StatementSalesLess Variable costsCost of bicyclesSales commissionContribution marginLess Fixed costsRentSalaryOperating income 960007200014400 9006000 864009600 69002700