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Topper Sports, Inc., produces high-quality sports equipment. The company's Racket Division manufactures three tennis rackets-the Standard, the Deluxe, and the Pro-that are widely used in amateur play. Selected information on the rackets is given below: Standard $ 45.00 Deluxe $ 70.00 Pro $100.00 Selling price per racket Variable expenses per racket: Production Selling (5% of selling price) $ 27.00 $ 2.25 $ 35.00 $ 3.50 $ 36.00 $ 5.00 All sales are made through the company's own retail outlets. The Racket Division has the following fixed costs: Fixed production costs Advertising expense Administrative salaries Total Per Month $ 138,000 118,000 68,000 $ 324,000 Sales, in units, over the past two months have been as follows: April May Standard Deluxe 2,000 1,000 8,000 1,000 Pro Total 5,000 B,000 3,000 12,000 Required: 1-a. Prepare contribution format income statements for April. 1-b. Prepare contribution format income statements for May, Prepare contribution format income statements for April. (Round "Total percent" answers to 1 decimal place) Topper Sports, Inc. Income Statement for April Deluxe Amount % $ 70,000 100% Total Standard Amount % Pro Amount $ 500,000 % % 26 Amount $ 660,000 $ 90,000 100% 100% 100% Sales Variable expenses: Production Selling 60% 54,000 202,500 35,000 3,500 50% 0 % 18,000 25,000 0 % 0 % 107.000 231,000 0.2% % 21% % % % %. % % % % Total variable expenses 256,500 62% 38,500 50% 43.000 0.2 % 0 % 100% 338,000 322,000 $ (166,500) 38 % $ 31,500 50 % $ 457,000 $ 99.8 % 15 Fixed expenses: Production Advertising Administrative (138,000) (118,000) (68,000) Total fixed expenses (324,000) (2,000) $ Reg 1A Req 1B > Prepare contribution format income statements for May. (Round "Total percent" answers to 1 decimal place) Topper Sports, Inc. Income Statement for May Deluxe Standard Pro Total 0 Amount % Amount % Amount % Amount % Sales % % % % Variable expenses: Depreciation % % Selling % % % % % % % % % % % Total variable expenses 0 0 % 0 % 0 % 0 0 0 % 0 % S 0 0 0 % 0 % 0.0 % % 0.0 % $ 0 0 $ $ ol Fixed expenses: Production Advertising Administrative Total fixed expenses 0 Net operating income $ 0

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