Cherokee Inc is a merchandiser that provided the following information A A A 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 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 E Direct materials 2 Prepare a contribution format income statement Cherokee, Inc Contribution Format Income Statement Variable expenses Fixed expenses

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Cherokee Inc  is a merchandiser that provided the following information  A A A 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 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  E Direct materials 2  Prepare a contribution format income statement  Cherokee, Inc  Contribution Format Income Statement Variable expenses  Fixed expenses

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Cherokee Inc. is a merchandiser that provided the following information: A A A Number of units sold Selling price per unit Variable selling expense per

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