Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling price per unit. Unit cost of goods sold 5,100 $ 590 $ 403 $ 52 Variable selling expense per unit. Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense 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. $ 124,600 $ 22 $ 206,500 Complete this question by entering your answers in the tabs below. Required A Required B Prepare a traditional format income statement for July. Fanelli Corporation For the month of July Traditional Income Statement Sales $ 3,009,000 Cost of goods sold 2,055,300 Gross margin 953,700 Selling and administrative expenses: Selling expense $ 389,800 Administrative expense 318,700 708 5001