Compute the following amounts that would be shown on these income statements: 1. Gross Profit 2. Contribution Margin 3. Total expenses shown below the gross profit line 4. Total expenses shown below the contribution margin line 5. Dollar value of ending inventory under absorption costing 6. Dollar value of ending inventory under variable costing 7. Which income statement will have a higher operating income? By how much? Explain. Data table each. Total costs froen the month are as follows: Iff) (Click on the icon lo view the data. The company prepares traditional (absorption coating) income statements for its banikers. Lucy would alse like to prepare contribution margin income statements for management use. Read the reguireanents. Compute the following amounts that would be shown on these income statements Requirement 1. Gross Profit Identify the formula, than compute the prose peoft