Cherokee Inc. is a merchandiser that provided the following information: 11,000 $ 16 Number of units sold 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 $21,000 $ 14,000 $10,000 $26,000 $86,000 Required: 1. Prepare a traditional income statement. CHEROKEE, INC. Traditional Income Statement Selling and administrative expenses