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

AmountTotal sales revenue$1,600,000Selling price per surfboard$400Variable selling expense per surfboard$40Variable administrative expense per surfboard$10Total fixed selling expense$480,000Total fixed administrative expense$450,000Merchandise inventory, beginning balance$100,000Merchandise inventory, ending balance$120,000Merchandise purchases$360,000

Required:

1.Draw a traditional income statement for the quarter ended May 31.

2.Draw a contribution format income statement for the quarter ended May 31.

3.What was the contribution toward fixed expenses and profits for each surfboard sold during the quarter?

contribution= .................... persurfboard