Type Northlake’s contribution-margin income statement at 20,000 skier-days

Answer

Sales 600,000 Less: variable costs 180,000 Contribution margin 420,000 Less: fixed costs 315,000 Operating income 105,000

Five lines, in this order, always. Sales less variable costs is the subtotal the functional statement lacks; the foot is operating income, not net income.

Hermanson Vol 2 ch 22 (functional vs CM format on one dataset, with a what-if — shape adapted); OpenStax Managerial Accounting §3.1 (concept map I11, I12)