The following data are for Paso Robles Company for the year ended December 31, 2014:

Costs:

Direct material $ 90,000

Direct labor 130,000

Manufacturing overhead:

Variable 45,000

Fixed 90,000

Sales commissions (variable) 25,000

Sales salaries (fixed) 20,000

Administrative expenses (fixed) 35,000

Selling price per unit $10

Units produced and sold 60,000

Assume direct materials and direct labor are variable costs. Do a contribution margin income statement and a traditional income statement.