10.00 polnts Home Entertainment is a small, family-owned business that purchases LCD televisions from a reputable manufacturer and sells them at the retail level. The televisions sell, on average, for 51,500 each. The average cost of a television from the manufacturer is $900 Home Entertainment has always kept careful accounting records, and the costs that it incurs in a typical month are as follows: Costs Selling Cost Formula 950 per month 40 per television sold Advertising Delivery of televisions Sales salaries and commissions $ 2.900 per month, plus 4% of sales Utilities Depreciation of sales facilities 3,000 per month 400 per month Administrative Executive salaries Depreciation of office $ 8,000 per month 500 per month $ 1,500 per month, plus S40 per television Clerical Insurance 400 per month During April, the company sold and delivered 150 televisions. Required 1. Prepare an income statement for April using the traditional format with costs organized by function. Traditional Income Statement For the Month Ended April 30 Selling and administrative expenses Selling expenses Total selling Administrative Total administrative expenses otal selling and administrative