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

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: Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. Complete this question by entering your answers in the tabs below. Prepare a contribution format income statement for the next quarter Prepare a contribution format income statement for the next quarter