Accounting records for The Ralston Company show the following for the most recent fiscal year:

Units produced and sold59,500Total revenues and costsSales revenue$ 377,600Direct materials costs96,000Direct labor costs48,400Variable manufacturing overhead24,600Fixed manufacturing overhead62,400Variable marketing and administrative costs20,300Fixed marketing and administrative costs47,500

Required:

1. Prepare a gross margin income statement.

2. Prepare a contribution margin income statement.

Accounting records for The Ralston Company show the following for the most recent fiscal year: Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Complete this question by entering your answers in the tabs below. Prepare a contribution margin income statement