Fanelli Corporation, a merchandising compsny, seported the following resauits for lul Number of units Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense sold 5,300 $590 $403 $58 $124,400 $22 $206,300 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