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Paula's Quilt Shoppe sells homemade Amish quilts. Paula buys the quits from local Amish artisans for $200 each, and her shop sets them for $410

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Paula's Quilt Shoppe sells homemade Amish quilts. Paula buys the quits from local Amish artisans for $200 each, and her shop sets them for $410 each. She alto paysa sales commission of 8% of sales revenue to her sales staff. Paula leases her country-style shop for $1,200 per month and pays $1.300 per month in payroll costs in addition to the sales commissions, Paula soli 100 quilts in February. Prepare Paula's traditional income statement and contribution margin income statement for the month Prepare the traditional income statement for the month, Paula's Quilt Shoppe Income Statement For the Month Ended February 28 Loss: Prepare the contribution margin income statement for the month Paula's Quilt Shoppe Contribution Margin Income Statement For the Month Ended February 28 Loss

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