Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: 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 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? Prepare a contribution format income statement. Prepare a traditional format income statement. \begin{tabular}{|l|l|} \hline \multicolumn{1}{|c|}{ Todrick Company } \\ \hline Traditional Income Statement \\ \hline Selling and administrative expenses \\ \hline & \\ \hline \end{tabular} 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit