3. ABC is a merchandiser that provided the following information: Number of units sold 20.000 Total fixed administrative expense Selling price per unit $30 Merchandise inventory, beginning balance Variable selling expense per unit $5 Merchandise inventory, ending balance Variable administrative expense per unit $10 Merchandise purchases Total fixed selling expense $50,000 Required: 1. Prepare a traditional income statement. $10,000 $100,000 $120,000 $250,000 ABC Traditional Income Statement 2. Prepare a contribution format income statement. ABC Contribution Format Income Statement