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$480,000 $ 32,000 320,000 $ 16,000 Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income $ 19,200 $ 24,000 $ 96,000 $ 28,800 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales? Complete this question by entering your answers in the tabs below Req 1 Req 2 Req 3 to 5 Req 6 Prepare a traditional format income statement. Todrick Company Traditional Income Statement $ 480,000 336,000 144,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Administrative expense Selling expense Administrative expense 24,000 24,000 19,200 48,000 115,200 28,800 Net operating income