Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 390,000 Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. $ 26,000 $ 260,000 $ 13,000 ? $ 15,600 $ 19,500 ? $ 78,000 $ 23,400 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in response to changes in unit sales? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to 5 Req 6 Prepare a contribution format income statement. Todrick Company Contribution Format Income Statement Sales Variable expenses: Selling expense Administrative expense Cost of goods sold $ 19,500 19,500 273,000 Fixed expenses: Administrative expense $ 15,600 $ 390,000 312,000 15,600