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Can anybody help me on this? It's for ACC2080 and based around traditional and contribution format income statements Exercise 1-6 Traditional and Contribution Format Income

Can anybody help me on this? It's for ACC2080 and based around traditional and contribution format income statements

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Exercise 1-6 Traditional and Contribution Format Income Statements [LO1-6] Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 12,000 Selling price per unit 8 15 Variable selling expense per unit $ 2 Variable administrative expense per unit $ 1 Total fixed selling expense $ 21,000 Total fixed administrative expense $ 14,000 Beginning merchandise inventory $ 12,000 Ending merchandise inventory 5 22,000 Merchandise purchases $ 88,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement

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