Cherokee Inc. is a merchandiser that provided the following information:

Number of units sold		11,000
Selling price per unit	$	17
Variable selling expense per unit	$	1
Variable administrative expense per unit	$	2
Total fixed selling expense	$	21,000
Total fixed administrative expense	$	14,000
Beginning merchandise inventory	$	11,000
Ending merchandise inventory	$	23,000
Merchandise purchases	$	87,000

Required:
1.	Prepare a traditional income statement.

2.	Prepare a contribution format income statement.