Milden Company is a merchandiser planning to sell 12,000 units next quarter at a selling price of $100 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of goods sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $35 per unit sold $210,000 per quarter 6% of sales $28,000 per quarter +$9.10 per unit sold $145,000 per quarter $9,000 per quarter $76,000 per quarter Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter.