Milden Company is a merchandiser that plans to sell 37,000 units during the next quarter at a selling price of $61 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $31 per unit sold $181,000 per quarter 6% of sales $63,000 per quarter + $4,00 per un $91,000 per quarter $10,100 per quarter $61,000 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