Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 13,000 Selling price per unit 16 Variable selling expense per unit 2 Variable administrative expense per unit 3 :23:33 Total fixed selling expense $18, 090 Total fixed administrative expense $15, 000 Beginning merchandise inventory $11, 000 $25, 090 OK Ending merchandise inventory Merchandise purchases $90, 000 nt Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement