Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3 to 5 Reg 6 Prepare a contribution format income statement. Todrick Company Contribution Format Income Statement Sales $ 255,000 Variable expenses: Cost of goods sold $ 178,500 Selling expense Administrative expense 178,500 Fixed expenses: Ending merchandise inventory 0 Net operating incomeComplete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3 to 5 Req 6 Prepare a traditional format income statement. Todrick Company Traditional Income Statement Sales Beginning merchandise inventory Gross margin 0 Selling and administrative expenses: Selling expense Fixed manufacturing overhead 0 Net operating incomeComplete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to 5 Req 6 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 3. Selling price per unit 4. Variable cost per unit 5. Contribution margin per unitComplete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to 5 Req 6 Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales? Traditional income statement Contribution income statementTodrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 255, 090 Beginning merchandise inventory $ 17, 000 Purchases $ 170, 090 Ending merchandise inventory $ 8,500 Fixed selling expense $ ? Fixed administrative expense $ 10, 200 Variable selling expense $ 12, 750 Variable administrative expense $ ? Contribution margin $ 51, 000 Net operating income $ 15, 300 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales