53:24 DOK mar Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,509 per unit and then sells them to retail customers for an average price of $3,500 each. The company's selling and administrative costs for a typical month are presented below: Costa Bellings Advertising Sales salaries and commissions Delivery of planos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment Cost Formula 1936 per month $ 4,773 per month, plus 58 of sales $50 per piano sold 5650 per month month $ 3,061 $ 13,415 per month $704 per month $2,531 per month, plus $38 per plane sold $ 865 per month During August, Marwick's Pianos, Incorporated, sold and delivered 57 pianos. Required: 1. Prepare a traditional format income statement for August. 2. Prepare a contribution format income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin. Complete this question by entering your answers in the tabs below. Required 1 Required 2