Winter Leisure is a retailer of snowboards. The information below is for the quarter ended December 31:

Amount Total sales revenue $ 1,600,000

Selling price per snowboard $ 400

Variable selling expense per snowboard $ 40

Variable administrative expense per snowboard $ 10

Total fixed selling expense $ 480,000

Total fixed administrative expense $ 450,000

Merchandise inventory, beginning balance $ 100,000

Merchandise inventory, ending balance $ 120,000

Merchandise purchases $ 360,000 Required:

1. Prepare a traditional income statement for the quarter ended December 31.

2. Prepare a contribution format income statement for the quarter ended December 31.

3. What was the contribution toward fixed expenses and profits for each snowboard sold during the quarter? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

4. What would operating income be if only 3,500 snowboards were sold in a quarter? You can assume no change to fixed expenses will occur if sales decline to 3,500 snowboards. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)