Question 3 Samuel Ltd is a merchandising company and the data for the last month's operation is provided below: Sales... S 850,000 Selling expenses. $ 3,000 per month plus 2% of sales Freight out.. $ 20 per unit sold Lighting. S 30,000 (60% variable and 40% fixed) Office expenses. $1,800 per month plus 55 per unit sold Depreciation... $ 2,800 per month Additional information: The selling price per unit is $50. The company has hired a new sales person who is paid a salary of $1,200 per month Required: Prepare a Contribution Format Income Statement for Samuel Ltd. (Marks: 10)