Problem 1-19 (Static) Traditional and Contribution Format Income Statements (L01-6] Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Book Sales Beginning merchandise Inventory Purchases Ending merchandise inventory Fixed selling expense Tixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income $ 300,000 $ 20,000 $ 200,000 $ 7.000 $ 2 $ 12,000 $ 15,000 $ 2 $ 60,000 $ 18,000 Print References 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. Reg 1 Reg 2 Reg 3 to 5 Reg 6 Prepare a traditional format income statement. Todrick Company Traditional Income Statement ME Drau 66 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 Meg 2 Req 3 to 5 Reg 6 Prepare a traditional format income statement. Todrick Company Traditional Income Statement Sales $ 300,000 213,000 87,000 $ Cost of goods sold Gross margin Selling and administrative expenses: Selling expense Administrative expense Selling expense Administrative expense Net operating income 15,000 12,000 30,000 12,000 x x 69,000 18,000 S [ Reg1 Req 3 to 5 >