Fanelli Corporation, a merchandising company, reported the following results for July:

Number of units sold		5,100
Selling price per unit	$	590
Unit cost of goods sold	$	403
Variable selling expense per unit	$	52
Total fixed selling expense	$	124,600
Variable administrative expense per unit	$	22
Total fixed administrative expense	$	206,500

Cost of goods sold is a variable cost in this company.

Required:

a. Prepare a traditional format income statement for July.

b. Prepare a contribution format income statement for July.