Milden Company is a merchandiser that plans to sell 41,000 units during the next quarter at a selling price of $66 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 Required: $33 per unit sold Cost Formula $189,000 per quarter 6% of sales $39,000 per quarter $4.00 per unit sold $99,000 per quarter $10,900 per quarter $69,000 per quarter 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter. Required 1 Required 2 Prepare a contribution format income statement for the next quarter. Milden Company Contribution Format Income Statement For the Next Quarter Cost of goods sold Variable expenses: Total variable expenses Contribution margin Fixed expenses: Advertising expense Shipping expense Administrative salaries Insurance expense Depreciation expense Total fixed expenses Net operating income 0 0 Required 1 Required 2 Prepare a traditional format income statement for the next quarter. k Sales Cost of goods sold Gross margin Milden Company Traditional Format Income Statement For the Next Quarter Selling and administrative expenses: Advertising expense Sales commissions Total selling and administrative expenses Net operating income 0 < Required 1 Required 2