High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plants operation:

Beginning inventory		0
Units produced		44,000
Units sold		39,000
Selling price per unit	$	84
Selling and administrative expenses:
Variable per unit	$	3
Fixed (per month)	$	563,000
Manufacturing costs:
Direct materials cost per unit	$	14
Direct labor cost per unit	$	9
Variable manufacturing overhead cost per unit	$	4
Fixed manufacturing overhead cost (per month)	$	792,000

Management is anxious to assess the profitability of the new camp cot during the month of May.

Required:

a. Prepare an income statement for May.

b. Prepare a contribution format income statement for May.