Answer:
<u>Net Income  $ 494,000</u>
Explanation:
Cullumber Inc.
CVP income statement 
For the Quarter Ended March 31, 2020.
Sales of $2,300,000
Variable
Cost of goods sold $941,000
Selling expenses 104,000
Administrative expenses 108,000 
Total Variable Expenses      $1153,000 
Contribution Margin             $ 1147,000     
Fixed
Cost of goods sold $474,000
Selling expenses 77,000
Administrative expenses 102,000 
Total Fixed Costs       $ 653,000        
Net Income  $ 494,000