Banana Company is a merchandiser that provides the following information for 20X1 Number of units sold Unit sales price Merchandise purchases Merchandise Inventory, Jan. 1, 20x1 Merchandise Inventory, Dec. 31, 20x1 Variable selling expense per unit Vanable administrative expenses per unit Total foxed selling expenses Total fixed administrative expense 10,000 $35 $180,000 $28,000 $25,000 $1.00 $1.50 $10,000 $25,000 Which one of the following is correct for a traditional format income statement and a contribution margin format income statement? Multiple Choice Gross Margin Contribution Margin $167000 $290,000 O Gross Margin $167,000 Contobution Margin $142.000 Gross Margin $170,000 Contribution Macg $142.000 Gross Margin Contribution Margin $170.000 $290.000