The following information has been assembled for Smooth Sailin' Inc. a retailer of standup paddle boards. For the quarter ended May 31:

AmountTotal sales revenue $ 1,024,000

Selling price per surfboard $ 320

Variable selling expense per surfboard $ 40

Variable administrative expense per surfboard $ 10

Total fixed selling expense $ 220,000

Total fixed administrative expense $ 190,000

Merchandise inventory, beginning balance $ 92,000

Merchandise inventory, ending balance $ 112,000

Merchandise purchases $ 356,000

Required:

A) DO A traditional income statement for the quarter ended May 31.

B) DO A ontribution format income statement for the quarter ended May 31.

C) What was the contribution toward fixed expenses and profits for each surfboard sold during the quarter?