Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 5,500 Selling price per unit $ 600 Unit cost of goods sold $ 407 Variable selling expense per unit $ 60 Total fixed selling expense $125,000 Variable administrative expense per unit $ 30 Total fixed administrative expense $206,900 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. 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 Selling and administrative expenses: 0 0 $ 0