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 Selling: Advertising Delivery of televisions Sales salaries and commissions Utilities Depreciation of sales facilities Administrative: Executive salaries Depreciation of office equipment Clerical Insurance Cost Formula 1,145 per month 42 per television sold: $ $ $ 3,500 per month, plus 5% of sales $ 480 per month $ 3,000 per month $ 11,800 per month $ 530 per month. $ 2,020 per month, plus $57 per television sold 700 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. HOME ENTERTAINMENT Traditional Income Statement For the Month Ended April 30 Selling and administrative expenses Selling expenses Total selling expenses Administative expenses D