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:

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:

$1.$ Prepare a contribution format income statement for the next quarter.

$2.$ Prepare a traditional format income statement for the next quarter.