5 Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 7 points Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense eBook Beginning merchandise inventory Ending merchandise inventory Amount 11,000 $ 16 $ 2 $ 3 $ 21,000 $ 15,000 $ 9,000 $ 26,000 $ 87,000 Hint Print References: Merchandise purchases 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. Mc Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc.