Haha Electronic Limited manufactures and sells two electronic equipments, EQ and SEQ, in Hong Kong.

  

Haha Electronic Limited manufactures and sells two electronic equipments, EQ and SEQ, in Hong Kong. The revenue and cost information of the company's products are as follows: Products EQ SEQ Selling price per unit $42.0 $18.0 Variable expenses per unit $28.0 $12.0 $94,000 Traceable fixed expenses per year $113,000 Common fixed expenses in the company total $123,500 yearly. Last year Haha Electronic Limited produced and sold 17,200 EQ and 34,800 SEQ Required: Prepare a contribution format income statement for the year segmented by product lines. (25 marks)