Haaki Shop Inc. is a large retailer of surfboards. The company assembled the information shown below for the quarter ended May 31:

	Amount
Total sales revenue	$	1,089,000
Selling price per surfboard	$	330
Variable selling expense per surfboard	$	40
Variable administrative expense per surfboard	$	10
Total fixed selling expense	$	250,000
Total fixed administrative expense	$	220,000
Merchandise inventory, beginning balance	$	93,000
Merchandise inventory, ending balance	$	113,000
Merchandise purchases	$	350,000

1. Prepare a traditional income statement for the quarter ended May 31. HAAKI SHOP, INC. Traditional Income Statement Quarter Ended May 31 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses $ 382,000 Administrative expenses 253,000 Operating income $ 1,089,000 223,000 866,000 635,000 $ 231,000 2. Prepare a contribution format income statement for the quarter ended May 31. $ 1,089,000 HAAKI SHOP, INC. Contribution Format Income Statement Quarter Ended May 31 Sales Variable expenses: Cost of goods sold $ 223,000 Selling expenses Administrative expenses Contribution margin Fixed expenses Selling expenses Administrative expenses Operating income $ 223,000 $ 0 3. What was the contribution toward fixed expenses and profits for each surfboard sold du Contribution per surfboard