Cherokee Inc. is a merchandiser that provided the following information:

Amount

Number of units sold= 13,000

Selling price per unit= $17

Variable selling expense per unit= $2

Variable administrative expense per unit=$3

Total fixed selling expense= $21,000

Total fixed administrative expense=$15,000

Beginning merchandise inventor=$9,000

Ending merchandise inventory=$24,000

Merchandise purchases$90,000

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Required:

1. Prepare: traditional income statement.

2.Prepare: contribution format income statement.

Can I have an explenation of how to get the final result? the process. Thanks