Cherokee Inc. is a merchandiser that provided the following information: $ Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 14, eee $ 16 $ 2 $ 1 $ 19,000 $ 14,eee $ 11,000 $ 25,eee $ 88, eee 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 Sales Cost of goods sold Gross margin Selling and administrative expenses: Administrative expenses Selling expenses Thietanenin in Am 0 variable aoministrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases > $ 19,000 $ 14,000 $ 11,000 $ 25,eee $ 88,eee Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. 31 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 Sales Variable expenses Beginning merchandise inventory 0 Purchases Cost of goods sold Ending merchandise inventory Cost of goods sold Contribution margin Fixed expenses Variable manufacturing overhead Fixed manufacturing overhead Variable manufacturing overhead Fixed manufacturing overhead Net operating income 0