Milden Company is a merchandiser that plans to sell 41,000 units during the next quarter at a selling price of $59 per unit. The company also gathered the following cost estimates for the next quarter:

Cost	Cost Formula
Cost of good sold	$ 30	per unit sold
Advertising expense	$ 186,000	per quarter
Sales commissions	5%	of sales
Shipping expense	$ 16,000	per quarter + $5.00 per unit sold
Administrative salaries	$ 96,000	per quarter
Insurance expense	$ 10,600	per quarter
Depreciation expense	$ 66,000	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.