Milden Company is a merchandiser that plans to sell 37,000 units during the next quarter at a selling price of $55 per unit. The company also gathered the following cost estimates for the next quarter Cont Cost of good sold Advertising expense Sales connissions Shipping expense Administrative salaries Insurance expense Depreciation expense Required: $27 per unit sold $184.000 per quarter 5% of sales Cost Formula $24,000 per quarter +$5.00 per unit zold $94,000 per quarter $10. 400 per quarter $64.000 per quarter 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. 1.epare a conuuton jumat incume Statementi e CAL quai Ci 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 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: 0 Total fixed expenses 0 V Required 1 Required 2 > 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 Selling and administrative expenses: Total selling and administrative expenses 0