CAN YOU PLEASE VERY CLEARLY WRITTEN ANSWER THE PROBLEM TO THE ACCOUNTING QUESTIONS. CAN YOU WRITE IT WHERE ITS EASY FOR UNDERSTAND WHAT THE ANSWER IS. THANK YOU.

PLEASE SHOW THE ANSWER CLEARLY.

Cherokee Inc. is a merchandiser that provided the following information: 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 69 69 69 69 69 696 20.000 30 4 2 $ 40,000 30,000 24,000 44,000 $ 180,000 Required: 1. Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Selling and administrative expenses: 0 2. Prepare a contribution format income statement. Cherokee, Inc. Contribution Format Income Statement Variable expenses: 0 Fixed expenses: 0