Milden Company is a merchandiser that plans to sell 35,000 units during the next quarter at a selling price of $60 per unit. The company also gathered the following cost estimates for the next quarter cost Cast of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $30 per unit sold $180,000 per quarter 5% of sales $40,000 per quarter + $5.00 per unit sold $90,000 per quarter $10,000 per quarter $60,000 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 Required 2 Prepare a contribution format income statement for the next quarter. Milden Company Contribution Format Income Statement For the Next Quarter Variable expenses ses 0 Total variable expenses Contribution margin Fored expenses Total fixed expenses 0 Required 2 > 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. Required 1 Required 2 Prepare a traditional format income statement for the next quarter. Milden Company Traditional Format Income Statement For the Next Quarter ces Selling and administrative expenses Total selling and administrative expenses