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 Amount 10,000 $ 15 $ 1 $ 2 $ 21,000 $ 13,000 $ 9,000 $ 25,000 $ 86,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Sales Cost of goods sold Prepare a traditional income statement Cherokee, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Variable manufacturing overhead Fixed manufacturing overhead Administrative expenses Administrative expenses Net operating income nces 0 Required Required 2 > Prepare a contribution format Income statement Cherokee, Inc. Contribution Format Income Statement Sales Variable expenses Cost of goods sold Fixed expenses 0 Net operating income