The following information has been provided by Happy Co. for the first quarter of the year: - Cost of Goods Sold $90,000 - Fixed Administrative expenses........ \$20,000 - Fixed selling expenses................\$10,000 - Number of units sold ...................100,000 - Price per unit - Variable administrative expenses per unit ...... $0.03 - Variable selling expenses per unit .............. $0.04 Required: 1. Prepare a Traditional format Income statement. 2. Prepare a Contribution format Income statement