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Haaki Shop, Inc., is a large retailer of surfboards. The company assembled the information shown below for the quarter ended May 31: Required: Prepare a
Haaki Shop, Inc., is a large retailer of surfboards. The company assembled the information shown below for the quarter ended May 31: Required: Prepare a traditional income statement for the quarter ended May 31. (Input all amounts as positive values except losses which should be indicated by a minus sign.) Prepare a contribution format income statement for the quarter ended May 31.(Input all amounts as positive values except losses which should be indicated by a minus sign.) What was the contribution toward fixed expenses and profits for each surfboard sold during the quarter? (Round your answer to the nearest dollar amount.)
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