Cherokee Inc. is a merchandiser that provided the following informa Number of units sold Amount Selling price per unit 20 , 000 BO Variable selling expense per unit 4 Variable administrative expense per unit 2 Total fixed selling expense 40 , 000 Total fixed administrative expense 30 , 000 Beginning merchandise inventory 24, 900 Ending merchandise inventory 44 , 000 Merchandise purchases $ 180,000 equired: Prepare a traditional income statement. Prepare a contribution format income statement