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Section Two: XYZ Corporation reported the following results for July: Number of units sold 5,300...

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Section Two: XYZ Corporation reported the following results for July: Number of units sold 5,300 Selling price per unit $590 Unit cost of goods sold $403 Variable selling expense per unit $58 Total fixed selling expense $124,400 Variable administrative expense per unit $22 Total fixed administrative expense $206,300 Required for Section Two: SHOW WORK BELOW 1. Prepare a traditional format income statement for July. 2. Prepare a contribution format income statement for July. NOTE: TRADITIONAL FORMAT AND CONTRIBUTION FORMAT INCOME STATEMENTS IN THE LECTURE AND ON PAGE 17 OF TEXTBOOK TRADITIONAL FORMAT INCOME STATEMENT (SHOW WORK BELOW) CONTRIBUTION FORMAT INCOME STATEMENT (SHOW WORK BELOW)

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