$4 Question No. 2 (5 Marks): M&A, Inc. is a merchandiser that provided the following information: Number of units sold 45,000 Selling price per unit $30 Variable selling expense per unit Variable administrative expense per unit $2 Total fixed selling expense $40,000 Total fixed administrative expense $30,000 Merchandise inventory, beginning balance $24,000 Merchandise inventory, ending balance $44,000 Merchandise purchases $180,000 Required: Scanned with CamScanne 1) Prepare a traditional income statement. (Show your calculations) 2) Prepare a contribution format income statement (the cost of goods sold is variable cost). (Show your calculations)