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Fanelli Corporation, a merchandising company, reported the following results for July:

Number of units sold	5,700
Selling price per unit	$ 600
Unit cost of goods sold	$ 409
Variable selling expense per unit	$ 64
Total fixed selling expense	$ 125,200
Variable administrative expense per unit	$ 20
Total fixed administrative expense	$ 207,100

Cost of goods sold is a variable cost in this company.

Required:

a. Prepare a traditional format income statement for July.

b. Prepare a contribution format income statement for July.

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