An income statement for Sarah's Bookstore for the first quarter of the year is presented below: On average, a book sells

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An income statement for Sarah's Bookstore for the first
quarter of the year is presented below:
On average, a book sells for $70. Variable selling expenses are $5
per book with the remaining selling expenses being fixed. The
variable administrative expenses are 4% of sales with the remainder
being fixed.

The cost formula for selling and administrative expenses with "X"
equal to the number of books sold is:
Y = $116,600 + $7.80X
Y = $143,400 + $10.60X
Y = $143,400 + $7.80X
Y = $116,600 + $5.00X