Milden Company is a merchandiser that plans to sell $31,000$ units during the next quarter at a selling price of $$58$ per unit. The company also gathered the following cost estimates for the next quarter:

$\backslash$table$[[$Cost$,$Cost Formula$],[$Cost of good sold,$$28$ per unit sold$],[$Advertising expense,$$178,000$ per quarter$],[$Sales commissions,$5\%$ of sales$],[$Shipping expense,$$48,000$ per quarter $+$$$5\mathrm{.}00$ per unit sold$],[$Administrative salaries,$$88,000$ per quarter$],[$Insurance expense,$$9,800$ per quarter$],[$Depreciation expense,$$58,000$ per quarter$]]$

Required:

Prepare a contribution format income statement for the next quarter.

Prepare a traditional format income statement for the next quarter.

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Required $1$

Required $2$

Prepare a contribution format income statement for the next quarter.

Milden Company

Contribution Format Income Statement