Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling price per unit Unit cost of goods sold Total fixed selling expense 19 Total fixed administrative expense Variable selling expense per unit Variable administrative expense per unit 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. 5,100 $ 590 $ 403 $ 52 $ 124,600 $ 22 $ 206,500