Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit $ 2 ? Total fixed selling expense $ 21,000 Total fixed administrative expense $ 16,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 23,000 Merchandise purchases $ 87,000 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 $ $ 10,000 15 2 2 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 Selling and administrative expenses: < Required 1 0 Required 2 >