Problem 3-12 Traditional and Contribution Format Income Statement [L03] Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December 31: Amount Total sales revenue $1,023,000 Selling price per snowboard $ 310 Variable selling expense per snowboard $ 30 Variable administrative expense per snowboard $ 10 Total fixed selling expense $ 260,000 Total fixed administrative expense 5 230,000 Merchandise inventory, beginning balance 5 91,000 Merchandise inventory, ending balance 5 111,000 Merchandise purchases $ 350,000 Required: 1. Prepare a traditional income statement for the quarter ended December 31. Selling and administrative expenses: _- 2. Prepare a contribution format income statement for the quarter ended December 31. Variable expenses: Fixed expenses: 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.) 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.) Operating income