Question 13 of 27 < > View Policies Show Attempt History Current Attempt in Progress The condensed income statement for the Peri and Paul partnership for 2022 is as follows. Peri and Paul Company Income Statement For the Year Ended December 31, 2020 Sales (240,000 units) $1,200,000 Cost of goods sold 800,000 Gross profit 400,000 Operating expenses Selling $300,000 Administrative 152,500 452,500 $(52,500) Net loss A cost behavior analysis indicates that 75% of the cost of goods sold are variable and 40% of the selling expenses are variable. Administrative expenses are $92,500 fixed.