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

Number of units sold		6,400
Selling price per unit	$	600
Unit cost of goods sold	$	416
Variable selling expense per unit	$	56
Total fixed selling expense	$	125,900
Variable administrative expense per unit	$	24
Total fixed administrative expense	$	207,800

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.