Milden Company is a merchandiser that plans to sell 43,000 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 Formula Cost Cost of good sold Advertising expense Sales commissions shipping expense Administrative salaries Insurance expense Depreciation expense $31 per unit sold $187,000 per quarter 6% of sales $45,000 per quarter $4.00 per unit sold $97,000 per quarter $10,700 per quarter $67,000 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