Haaki Shop inc is a large retailer of water sports equipment .An income statement for the company's surfboard department for a recent quarter is presented below:

The HAAKI Shop Inc.

Income Statement -Surfboard Department

For the Quarter Ended May 31

Sales$800,000

Less cost of goods sold300,000

Gross margin500,000

Less operating expenses:

Selling expenses$250,000

Administrative expenses160,000

Net operating Income$90,000

The surfboard sell on the average for $400 each.The department's variable selling expenses are $50per surfboard sold.The remaining selling expenses are fixed.The administrative expenses are25% variable and 75% fixed.The company purchases its surfboards from a supplier at a cost of $150 per surfboard.

Required :

1.Prepare & income statement for the quarter using the contribution approach

2.what was the contribution toward fixed expenses and profits from each surfboard sold during the quarter?