First one is a contribution income statement. All answers listed are correct but might need to add more.

Second is a traditional income statement. Everything below selling expense is wrong

Problem 1-19 Traditional and Contribution Format Income Statements [LO1-6] Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise Inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income $360,000 $ 24,000 $ 240,000 $ 12,000 $ 2 14.400 $ 18.000 $ ? $ 72.000 $ 21,600 Required: 1. Prepare a contribution format income statement 2. Prepare a traditional format income statement 3. Calculate the selling price per unit 4 Calculate the variable cost per unit 5. Calculate the contribution margin per unit 6. Which income statement format traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales? Prepare a contribution format income statement. Todrick Company Contribution Format Income Statement Sales $ 360,000 Variable expenses Administrative expense 18,000 Cost of goods sold 252,000 Selling expense 18,000 0 288,000 Contribution margin 72,000 Fixed expenses: $ Selling expense Administrative expense 36,000 14.400 50,400 Net operating income $ 21,600 Reg 1 Reg 2 Req 3 to 5 Reg 6 Prepare a traditional format income statement. Todrick Company Traditional Income Statement Sales $ 360,000 252,000 108,000 Cost of goods sold Gross margin Selling and administrative expenses Selling expense Administrative expense $ 252,000 21,600 273,600 Net operating income $ (165,600)