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

Number of units sold 6,800

Selling price per unit $ 610

Unit cost of goods sold $ 420

Variable selling expense per unit $ 64

Total fixed selling expense $ 126,300

Variable administrative expense per unit $ 32

Total fixed administrative expense $ 208,200

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.