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: 20 points Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $28 per unit sold $ 178,000 per quarter 5% of sales $ 48,000 per quarter + $5.00 per unit sold $ 88,000 per quarter $9,800 per quarter $58,000 per quarter eBook Ask Print Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. References Complete this question by entering your answers in the tabs below. Required Required 1 2 Prepare a contribution format income statement for the next quarter. Milden Company Contribution Format Income Statement For the Next Quarter Variable expenses: Total variable expenses Contribution margin Fixed expenses: Total fixed expenses 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: 20 points Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $28 per unit sold $178,000 per quarter 5% of sales $48,000 per quarter + $5.00 per unit sold $88,000 per quarter $9,800 per quarter $58,000 per quarter eBook Ask Print Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. 10 References Complete this question by entering your answers in the tabs below. Required Required 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