11. Jane's Ice Cream Shoppe sold 9,900 servings of ice cream during June for $3 per serving. Jane purchases the ice cream in large tubs from the Deluxe Ice Cream Company. Each tub costs Jane $7 and has enough ice cream to fill 20 ice cream cones. Jane purchases the ice cream cones for $0.15 each from a local warehouse club. Jane's Shoppe is located in a local strip mall, and she pays $1,950 a month to lease the space. Jane expenses $300 a month for the depreciation of the shop's furniture and equipment. During June, Jane incurred an additional $2,600 of other operating expenses (75% of these were fixed costs). Requirements 1. Prepare Jane's June income statement using a traditional format. 2. Prepare Jane's June income statement using a contribution margin format. Requirement 1. Prepare Jane's June income statement using a traditional format. Jane's Ice Cream Shoppe Income Statement For the Month Ended June 30 (1) Sales revenue (2) Cost of goods sold (3) Gross profit Operating expenses: (4) Lease expense (5) Depreciation expense (6) Other operating expenses (7) Total operating expenses Operating income Requirement 2. Prepare Jane's June income statement using a contribution margin format. Jane's Ice Cream Shoppe Contribution Margin Income Statement For the Month Ended June 30 (8) (9) |(10) (11) (12) |(13) |(14) (15) (16) Operating income