Pam's Quilt Shoppe sells homemade Amish quilts. Pam buys the quilts from local Amish artisans for $$290$ each, and her shop sells them for $$460$ each. She also pays a sales commission of $4\%$ of sales revenue to her sales staff. Pam leases her country$-$style shop for $$1,500$ per month and pays $$1,400$ per month in payroll costs in addition to the sales commissions. Pam sold $100$ quilts in February. Prepare Pam's traditional income statement and contribution margin income statement for the month.

Prepare the traditional income statement for the month.

Pam's Quilt Shoppe

Income Statement

For the Month Ended February $28$

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Less: $$

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Less: $$

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