Question: The alpine house, inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31

Total Sales Revenue $150,000

Selling Price per pair of skis $750

Variable selling expense per pair of skis $50

Total fixed selling expense $20,000

Total fixed administrative expense $20,000

Beginning merchandise inventory $30,000

Ending merchandise inventory $40,000

Merchandise purchases $100,000

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

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

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