Problem 1-25 Traditional and Contribution Format Income Statements [LO1-6 Milden Company is a merchandiser that plans to sell 41,000 units during the next quarter at a selling price of $59 per unit. The company also gathered the following cost estimates for the next quarter Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $30 per unit sold $186,000 per quarter 5% of sales $16,000 per quarter $5.00 per unit sold $96,000 per quarter $10.600 per quarter $66,000 per quarter Required: 1. Prepare a contribution format income statement for the next quarter 2. Prepare a traditional format income statement for the next quarter Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement for the next quarter. Milden Company Contribution Format Income Statement For the Next Quarter Variable expenses: Total variable expenses Contribution margin Fixed expenses: Total fxed expenses Garison 16e Rechecks 2017-08-07, 2017-09-18, 2018-07-27