Fashionisto Inc. is an upscale clothing store in New York City and London. Each store has two main departments, Men’s Apparel and Women’s Apparel. Marie Phelps, Fashionisto’s CFO, wants to use strategic performance measurement to better understand the company’s financial results. She has decided to use the profit center method to measure performance and has gathered the following information about the two stores and the two departments of the New York City store:

Total net sales $ 5,300,000
Fixed costs
Partly traceable and controllable 340,000
Partly traceable but noncontrollable 310,000
Nontraceable costs 160,000
Total net sales (percent)
London store 40 %
New York store 60
New York—Men’s Apparel 40
New York—Women’s Apparel 60
Cost of goods sold—variable (percent of sales)
London store 52 %
New York—Men’s Apparel 45
New York—Women’s Apparel 60
Variable operating costs (percent of sales)
London store 36 %
New York—Men’s Apparel 22
New York—Women’s Apparel 32
Fixed controllable costs—partly traceable (percent of total)
London store 40 %
New York total 40
Men’s Apparel 45
Women’s Apparel 40
Could not be traced to Men’s or Women’s Apparel 15
Could not be traced to London or New York 20
Fixed noncontrollable costs—partly traceable (percent of total)
London store 50 %
New York total 40
Men’s Apparel 35
Women’s Apparel 15
Could not be traced to Men’s or Women’s Apparel 50
Could not be traced to London or New York 10

Required:

-Using this information, prepare a contribution income statement for Fashionisto.