Maui Mikes is a large retailer of surfboards. The company assembled the information shown

below for the quarter ended May 31:

Total sales revenue	$750,000
Selling price per unit	$500
Variable selling expense per unit	$40
Variable administrative expense per unit	$15
Total fixed selling expense	$125,000
Total fixed administrative expense	$100,000
Merchandise inventory, beginning balance	$65,000
Merchandise inventory, ending balance	$85,000
Merchandise purchases	$295,000

1. Prepare a traditional income statement for the quarter ended May 31.

2. Prepare a contribution format income statement for the quarter ended May 31.

3. What was the contribution toward fixed expenses and profits for each surfboard sold during

the quarter? (State this figure in a single dollar amount per surfboard.)

(i need the number 3 solved pleas that one is important)