Colton Dry Cleaners has determined the following about its​ costs: Total variable expenses are $42,000​, total fixed expenses are $30,000, and the sales revenue needed to break even is $50,000. Determine the​ company's current​ 1) sales revenue and​ 2) operating income. ​(​Hint:​ First, find the contribution margin​ ratio; then prepare the contribution margin income​ statement.)
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Colton Dry Cleaners has determined the following about its​ costs: Total variable expenses are $42...
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