Conduct an analysis to compare and contrast the information that appears on a contribution income statement to information that is listed on a traditional (financial accounting) format income statement. Assume the following information for a merchandising company: reported sales of 7,400 units for the month at a selling price of $677 per unit. The cost of goods sold (all variable) was $441 per unit and the variable selling expense was $54 per unit. The total fixed selling expense was $155,600. The variable administrative expense was $24 per unit, and the total fixed administrative expense was $370,400.

Question A). Prepare a formal contribution format income statement for the month to determine a final dollar amount that would be reported as Net Operating Income. All dollar amounts used in your answer must include the correct account name. Enter your final answers to a two column table

Question B). Prepare a formal traditional format income statement for the month to determine a final dollar amount that would be reported as Net Operating Income. All dollar amounts used in your answer must include the correct account name. Enter your final answers to a two column table

C). Demonstrate your understanding of the meaning of the numbers you had calculated for your previous answers to this assignment question. Explain the differences between net operating income when using the contribution format in comparison to the traditional format from a managers perspective when using this information to make more informed decisions.