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	$	1,232,000
Selling price per surfboard	$	440
Variable selling expense per surfboard	$	48
Variable administrative expense per surfboard	$	16
Total fixed selling expense	$	155,000
Total fixed administrative expense	$	120,000
Merchandise inventory, beginning balance	$	80,000
Merchandise inventory, ending balance	$	100,000
Merchandise purchases	$	290,000

Required:
1.	Prepare a traditional income statement for the quarter ended May 31.

2.	Prepare 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?