Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $300,000 Beginning merchandise inventory $20,000 Purchases $200,000 Ending merchandise inventory $7,000 Fixed selling expense.... ? Fixed administrative expense $12,000 Variable selling expense $15,000 Variable administrative expense ? Contribution margin $60,000 Net operating income $18,000 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement.