Cherokee Inc. is a merchandiser that provided the following Information: Amount Number of units sold 11,000 Selling price per unit $ 16 Variable selling expense per unit $ 2 Variable administrative expense per unit $ 2 Total fixed selling expense $ 20,000 Total fixed administrative expense $ 14,000 Beginning merchandise inventory $ 8,000 Ending merchandise inventory $ 25,000 Merchandise purchases $ 89,000 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 contribution format income statement. Cherokee, Inc. Contribution Format Income Statement Variable expenses: Fixed expenses: 0 < Required 1 Required 2 >