Convert the provided Traditional Income Statement to a Contribution Format Income Statement based on the assumptions in Appendix 1 & Appendix 2 Client requests that consultants create a long-form and short-form income statement. Appendix 1: Traditional Format Income Statement Sales Cost of Goods Sold Gross Margin Operating Expenses: Traditional Income Statement Appendix 2: 100,000 General Expense Fixed % 80% 42,000 Administrative Expense Variable % 45% 58,000 Admin Depreciation Expense Fixed % Sales Commission Fixed % 100% 0% General Expenses 20,000 Administrative Expenses 13,000 Admin Depreciation Expense 15,000 Sales Commissions 3,000 Total Operating Expenses 51,000 Net Operating Income 7,000 Interest Expense 4,000 Earnings before taxes 3,000 Income Taxes 2,000 Net Income 1,000