Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense por unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Ending merchandise inventory Beginning merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Amount 11,000 $ 16 S 2 S 3 $ 20,000 $ 14,000 $ 10,000 $ 24,000 $ 89,000 Answer is not complete. 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 Sales G Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses Net operating income 0 Required 2 >