Home Entertainment is a small, family-owned business that purchases LCD televisions from a reputable manufacturer and sells them at the retail level. The televisions sell, on average, for $1,580 each. The average cost of a television from the manufacturer is $1,050.

Home Entertainment has always kept careful accounting records, and the costs that it incurs in a typical month are as follows:

Costs	Cost Formula
Selling:
Advertising	$	1,145	per month
Delivery of televisions	$	42	per television sold
Sales salaries and commissions	$	3,500	per month, plus 5% of sales
Utilities	$	480	per month
Depreciation of sales facilities	$	3,080	per month
Administrative:
Executive salaries	$	11,800	per month
Depreciation of office equipment	$	530	per month
Clerical	$	2,020	per month, plus $57 per television sold
Insurance	$	780	per month

During April, the company sold and delivered 232 televisions.

Required:

1.	Prepare an income statement for April using the traditional format with costs organized by function.

2.	Prepare an income statement for April, this time using the contribution format with costs organized by behaviour. Show costs and revenues on both a total and a per unit basis down through contribution margin.