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 $ 16 1 $ 2 $ 20,000 $ 14,eee $ 12,000 $ 23,899 $ 85,000 Required: 1. Prepare a traditional Income statement 2. Prepare a contribution format Income statement. Answer is not complet Complete this question by entering your answers in the tabs below. Required: Required 2 Prepare a traditional income statement Cherokee. Ino Traditional Income Statement Sales Cost of goods sold Gross margin Seiling and administrative expenses Seing expenses 40 000 Administrative expenses S 180.000 74 000 38.000 Iset opsting income 2200C