The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Total sales revenue Selling price per pair of skis Variable selling expense per pair of skis Variable administrative expense per pair of skis Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 150,000 750 S 50 S 10 $ 20,000 $ 20,000 $ 30,000 $ 40,000 $ 100,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. The Alpine House, Inc. Traditional Income Statement Sales $ 150,000 Cost goods sold 90,000 Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 0 2. Prepare a contribution format income statement for the quarter ended March 31. The Alpine House, Inc. Contribution Format Income Statement Sales Variable expenses: Cost of goods sold Selling expenses Administrative expenses 0 Fixed expenses Purchases 0 3. What was the contribution toward fixed expenses and profits for each pair of skis sold during the quarter? (Round your final answer to nearest whole dollar amount.) Contribution of each pair of skis was $ 240