Ick Manufacturing Company established the following standard price and cost information:

sales price	$50 per unit
variable manufacturing costs	32 per unit
fixed manufacturing cost	$100,000 total
fixed selling and administrative cost	$40,000 total

Ick expected to produce and sell 20,000 units. Actual production and sales amounted to 21,500 units. Required: (a) Prepare the pro forma income statement in contribution format that would appear in Ick's master budget for the year. (b) Prepare the income statement in contribution format that would appear in Ick's flexible budget.