5 Cherokee Inc. is a merchandiser that provided the following information: points 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 $ 30,000 $ 24,000 $ 44,000 $ 180,000 eBook DOO Hint Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Print points Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Prepare a traditional income statement. Hint Cherokee, Inc. Traditional Income Statement Print References Selling and administrative expenses: 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Inc. Contribution Format Income Statement Variable expenses: 0 Fixed expenses: