Prepare traditional and contribution margin income statements (Learning Objective 6) Kelsey's Ice Cream Shoppe sold 9,000 servings of ice cream during June for \(\$ 3\) per serving. Kelsey purchases the ice cream in large tubs from the BlueBell Ice Cream Company. Each tub costs Kelsey \(\$ 15\) and has enough ice cream to fill 30 ice cream cones. Kelsey purchases the ice cream cones for \(\$ 0.05\) each from a local warehouse club. Kelsey's Shoppe is located in a local strip mall, and she pays \(\$ 1,800\) a month to lease the space. Kelsey expenses \(\$ 250\) a month for the depreciation of the Shoppe's furniture and equipment. During June, Kelsey incurred an additional \$2,500 of other operating expenses ( \(75 \%\) of these were fixed costs).

1. Prepare Kelsey's June income statement using a traditional format.

2. Prepare Kelsey's June income statement using a contribution margin format.