Prepare a traditional and contribution income statement

The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31:

Amount

Total sales revenue $ 1,276,000

Selling price per pair of skis $ 440

Variable selling expense per pair of skis $ 47

Variable administrative expense per pair of skis $ 19

Total fixed selling expense $ 155,000

Total fixed administrative expense $ 100,000

Beginning merchandise inventory $ 75,000

Ending merchandise inventory $ 105,000

Merchandise purchases $ 320,000

1. Prepare a traditional income statement

2. Prepare a contribution income statement

3. What was the contribution toward fixed expenses and profits for each pair of skis sold?

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