Milden Company is a merchandiser that plans to sell $25,000$ units during the next quarter at a selling price of $$52$ per unit. The company also gathered the following cost estimates for the next quarter:

$\backslash$table$[[$Cost$,$Cost Formula$],[$Cost of good sold,$$22$ per unit sold$],[$Advertising expense,$$172,000$ per quarter$],[$Sales commissions,$5\%$ of sales$],[$Shipping expense,$$54,000$ per quarter $+$$$6\mathrm{.}00$ per unit sold$],[$Administrative salaries,$$82,000$ per quarter$],[$Insurance expense,$$9,200$ per quarter$],[$Depreciation expense,$$52,000$ per quarter$]]$

Required:

Prepare a contribution format income statement for the next quarter.

Prepare a traditional format income statement for the next quarter.