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 of good sold Advertising expense Sales comissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $22 per unit sold $172,000 per quarter 5% of sales $54,000 per quarter + $6.00 per unit sold $82,000 per quarter $9,200 per quarter 552,000 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. Required 1 Required 2 Prepare a contribution format income statement for the next quarter. Millen Company Contribution Format Income Statement For the Next Quarter Variable expenses: 0 Total variable expenses Contribution margin Foced expenses 0 otal foxed expenses Required 2 > Required 1 Required 2 Prepare a traditional format income statement for the next quarter. Milden Company Traditional Format Income Statement For the Next Quarter Selling and administrative expenses: Total selling and administrative expenses 0 Required 1