Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling price per unit 5,300 $ 600 Unit cost of goods sold $ 405 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. 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 $ 56 $ 124,800 $ $ 26 206,700

Fanelli Corporation, a merchandising company, reported the following results for July: 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. Prepare a traditional format income statement for July