14 Exercise 1-6 (Static) Traditional and Contribution Format Income Statements [LO1-6] Cherokee Incorporated is a merchandiser that provided the following information: 0.75 points eBook Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 20,000 $ 30 $.4 $ 2 $ 40,000 $ 30,980 $ 24,00 $ 44,000 $ 180,000 Hint Ask Print References Required: 1. Prepare a traditional income statement 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional Income statement, 14 Required 1 Required 2 Prepare a traditional income statement. 0.75 points Cherokee, Incorporated Traditional Income Statement eBook Hint Ask Selling and administrative expenses Print References 0 Peamised 2 > 14 Required 1 Required 2 Prepare a contribution format income statement. 0.75 points Cherokee, Incorporated Contribution Format Income Statement eBook Variable expenses Hint Ask Print References 0 Fixed expenses 0