Please use excel and show the formula!
when possible and use Excel formulas for all calculated amounts.
In this assignment you analyze the costs of a piano retailer. Using the given data, prepare
a traditional income statement and a contribution format income statement for April.
		GRAND PIANOS, INC.
		Traditional Income Statement
		For the Month Ended April 30
		Sales				$ 175,000
		Cost of goods sold			(112,000)
		Gross margin			63,000
		Selling and administrative expenses:
		Selling expenses:
		Advertising			1,000
		Delivery of pianos		2,800
		Sales salaries & commissions	13,750
		Utilities			650
		Depreciation of sales facilities	5,000
		Total selling expenses		23,200
		Administrative expenses:
		Executive salaries		14,000
		Depreciation of office equipment	900
		Clerical			2,875
		Insurance			700
		Total administrative expenses	18,475
		Total selling and administrative expenses		41,675
		Net operating income
		GRAND PIANOS, INC.
		Contribution Format Income Statement
		For the Month Ended April 30
					Total	Per Piano
		Sales
		Variable expenses:
		Cost of goods sold
		Delivery of pianos
		Sales commissions
		Clerical
		Total variable expenses
		Contribution margin
		Fixed expenses:
		Advertising
		Sales salaries
		Utilities
		Depreciation of sales facilities
		Executive salaries
		Depreciation of office equipment
		Clerical
		Insurance
		Total fixed expenses
		Net operating income

Grand Pianos, Inc., purchases pianos from a well-known manufacturer and resells them at its retail store.
Needed information for this assignment is given below. Note that Sales Salaries and Commissions
and Clerical costs are mixed costs: in the contribution format income statement, they will be
divided into their variable and fixed amounts.
	GRAND PIANOS, INC.
Average sales price of each piano	$ 5,500
Number of pianos sold and delivered in April	35
			.
Costs			Cost Formula
Average cost of each piano (cost of goods sold)	$ 3,200	per piano
Selling:
Advertising			$ 1,000	per month
Delivery of pianos		$ 80	per piano sold
Sales salaries and commissions	$ 5,000	per month plus	5%	of sales dollars
Utilities			$ 650	per month
Depreciation of sales facilities	$ 5,000	per month
Administrative:
Executive salaries		$ 14,000	per month
Depreciation of office equipment	$ 900	per month
Clerical			$ 2,000	per month plus	$25	per piano sold
Insurance			$ 700	per month