ances Marwick's Pianos, Inc. purchases pianos from a large manufacturer for an average cost of $1,510 per unit and then sells them to retail customers for an average price of $3,400 each. The company's selling and administrative costs for a typical month are presented below. Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment Cost Formula $959 per month $4,779 per month, plus 4% of sales $61 per piano sold $663 per month $5,045 per month $13,586 per month $708 per month $2,477 per month, plus $43 per piano sold $858 per month During August, Marwick's Planos, Inc., sold and delivered 56 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.