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The data in the table below are from the Acme Corporation, a merchandiser. Amount Number of units sold 11,000 Selling price per unit $ 17

The data in the table below are from the Acme Corporation, a merchandiser.

Amount
Number of units sold 11,000
Selling price per unit $ 17
Variable selling expense per unit $ 1
Variable administrative expense per unit $ 1
Total fixed selling expense $ 19,000
Total fixed administrative expense $ 16,000
Beginning merchandise inventory $ 11,000
Ending merchandise inventory $ 22,000
Merchandise purchases $ 88,000

Required:

1. Prepare a traditional income statement.

2. Prepare a contribution format income statement.

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