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Statement [LO3] Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December 31: Amount $1,089,000 Total sales revenue Selling price per snowboard S 300 Variable selling expense per snowboard $ 40 Variable administrative expense per snowboard Total fixed selling expense $ 10 $ 250,000 Total fixed administrative expense. $ 220,000 93,000 $ Merchandise inventory, beginning balance Merchandise inventory, ending balance Merchandise purchases $ 113,000 $ 350,000 Required: 1. Prepare a traditional income statement for the quarter ended December 31. Winter Leisure Traditional Income Statement Quarter ended December 31 Sales $ 1,089.000 Cost of goods sold 300,000 Gross margin 789,000 Selling and administrative expenses Total sales revenue Amount $1,089,000 Selling price per snowboard Variable selling expense per snowboard $ 300 $ 40 Variable administrative expense per snowboard Total fixed selling expense $ 10 $ 250,000 Total fixed administrative expense $ 220,000 $ Merchandise inventory, beginning balance Merchandise inventory, ending balance Merchandise purchases 93,000 113,000 $ $ 350,000 Required: 1. Prepare a traditional income statement for the quarter ended December 31. Winter Leisure Traditional Income Statement Quarter ended December 31 $ 1,089,000 Sales 300,000 Cost of goods sold 789,000 Gross margin Selling and administrative expenses: Selling expenses 470,000 Administrative expenses Operating income $ 250,000 220,000 2. Prepare a contribution format income statement for the quarter ended December 31. Winter Leisure Contribution Format Income Statement Quarter ended December 31 Sales Variable expenses: Selling expenses Cost of goods sold 0 Administrative expenses Contribution margin Fixed expenses: Selling expenses Administrative expenses Operating income $ 0 3. What was the contribution toward fixed expenses and profits for each snowboard sold during the quarter? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Contribution per snowboard 4. What would operating income be if only 2,800 snowboards were sold in a quarter? You can assume no change to fixed expenses will occur if sales decline to 2,800 snowboards. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)