Complete the following Income Statement and Contribution Statement. Where ever there is a "?", a formulaumber needs to be entered.

Sales Variable costs: $12,000 Cost of goods sold Variable selling Variable administrative $6,000 $600 $400 Fixed costs: Fixed selling Fixed administrative $2,500 $1,500 Traditional Format Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administrative Net operating income Contribution Format Income Statement Sales Variable expenses Cost of goods sold Variable selling Variable administration Contribution margin xed expenses Fixed selling Fixed administrative Net operating income