In December, the XYZ Company, a manufacturing company, reported the following financial data:

	Sales..........................................................	$800,000
	Cost of Goods Sold (Variable)..................	$350,000
	Variable selling expense...........................	$110,000
	Fixed selling expense................................	$35,000
	Variable administrative expense...............	$20,000
	Fixed administrative expense....................	$45,000

Prepare an income statement in good form for December using the contribution approach.

Prepare an income statement in good form for December using the traditional approach.