Paula's Quilt Shoppe sells homemade Amish quilts. Paula buys the quilts from local Amish artisans for $$260$ each, and her shop sells them for $$460$ each. She also pays a sales commission of $6\%$ of sales revenue to her sales staff. Paula leases her country$-$style shop for $$800$ per month and pays $$1,400$ per month in payroll costs in addition to the sales commissions. Paula sold $100$ 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 $28$

$\backslash$table$[[$Sales revenue,$],[$Less: Cost of goods sold,$],[$Gross profit,$]]$

Less: Operating expenses

Sales commissions

Payroll costs

Lease

Operating income