Cherokee Inc. is a merchandiser that provided the following information: 4 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed administrative expense. 01:02:06 Total fixed selling expense Ending merchandise Inventory Merchandise purchases Beginning merchandise inventory Amount 13,000 16 $ 1 $ 2 $ 22,000 $ 15,000 $ 12,000 $ 25,000 $ 88,000 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