Cherokee Inc. is a merchandiser that provided the following information Number of units sold Selling price per unit Variable selling expense per unit Amount 10,000 17 $ 1 Variable administrative expense per unit 2 Total fixed selling expense $ 18,000 Total fixed administrative expense $13,000 Ending merchandise inventory Beginning merchandise inventory Merchandise purchases 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. $ 11,000 $ 22,000 $ 86,000 Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Sales $ 170,000 Cost of goods sold (75,000) Trans marrin os nonl Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Sales 170,000 Cost of goods sold (75,000) Gross margin 95,000 Selling and administrative expenses Selling expenses Administrative expenses 0 Required 2 Required 1 Required 2 Prepare a contribution format income statement. Variable expenses Cherokee, Inc. Contribution Format Income Statement Fixed expenses