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Problem 1-25 Traditional and Contribution Format Income Statements (LO1-6] Milden Company is a merchandiser that plans to sell 39,000 units during the next quarter at a selling price of $65 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of good sold Advertising expense Sales commissions Cost Formula $32 per unit sold $ 188,000 per quarter 5% of sales $ 42,000 per quarter + $4.00 per unit sold $ 98,000 per quarter $10,800 per quarter $68,000 per quarter Shipping expense Administrative salaries Insurance expense Depreciation expense Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. Complete this question by entering your answers in the tabs below. Required Required Prepare a contribution format income statement for the next quarter. Milden Company Contribution Format Income Statement For the Next Quarter Variable expenses: Total variable expenses Contribution margin Fixed expenses: Total fixed expenses Required 1 Required 2 >