bb.aurak.ac.ae Sign in to your account Blackboard Collaborate... Critical Thinking and Rea... Upload Assignment: Gro... Untitled Bb Unti ASSIGNMENT INFORMATION Due Date Points Possible Thursday, March 31, 2022 5 11:59 PM Traditional and Contribution Format Income Statements: This is group assignment (Only one student from the group submits the assignment). Please use the submission form to submit your group assignment. You need to mention your group assignment names (full name, student no/or ID and the student number on the list. The Assignment is: Dubai Company is a merchandiser that reported the following information based on 1,000 units sold No. Transactions The Value 1. Sales $300,000 2. Beginning merchandise inventory $20,000 3. Purchases $200,000 4. Ending merchandise inventory $7,000 5. Fixed selling expense ? $30,000 6. Fixed administrative expense $12,000 7. Variable selling expense $15,000 8. Variable administrative expense ? $12,000 9. Contribution margin $60,000 10. Net operating income $18,000 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. Cancel Save Draft Submit