1. Hatim Tai Stores, is a merchandiser that provided the following information: Number of units sold 80,000 $90 Selling price per unit Variable selling expense per unit Variable administrative expense per unit $16 $12 Total fixed selling expense $96,000 Total fixed administrative expense $62,000 $48,000 Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $76,000 $1620,000 Required: i) Prepare a traditional income statement. ii) Prepare a contribution format income statement