ter 1 Saved Hele 1 Problem 1-25 Traditional and Contribution Format Income Statements (LO1-6) Milden Company is a merchandiser that plans to sell 31,000 units during the next quarter at a seling price of $58 per unit. The company also gathered the following cost estimates for the next quarter: oped Cost Cost of good sold Advertising expense sales commissions shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $28 per unit sold $178,000 per quarter 51 of sales $40,000 per quarter + $5.00 per unit sold $88,000 per quarter $9.800 per quarter 558,000 per quarter OOK int Required: 1. Prepare a contribution format income statement for the next quarter 2. Prepare a traditional format income statement for the next quarter. ences Prepare a contribution format income statement for the next quarter. Milden Company Contribution Format Income Statement For the Next Quarter 3 Variable expenses Total variable expenses Contribution margin Fixed expenses aces Total foxed expenses 0 3 Required Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional format income statement for the next quarter. ed Milden Company Traditional Format Income Statement For the Next Quarter ok Selling and administrative expenses: nces Total selling and administrative expenses