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

		Amount
Number of units sold		11,000
Selling price per unit	$	16
Variable selling expense per unit	$	2
Variable administrative expense per unit	$	3
Total fixed selling expense	$	20,000
Total fixed administrative expense	$	13,000
Beginning merchandise inventory	$	10,000
Ending merchandise inventory	$	22,000
Merchandise purchases	$	89,000

Required:

1. Prepare a traditional income statement.

2. Prepare a contribution format income statement.

Please solve the charts using the very top table numbers. Disregard the table which is in the top image. I had to use that image to provide the traditional income statement graph.

2. value: 10.00 points 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 13,000 18.00 1.00 1.00 20,000 14,000 9,000 25,000 88,000 $ $ $ Required: 1. Prepare a traditional income statement. CHEROKEE, INC. Traditional Income Statement Selling and administrative expenses: 2. Prepare a contribution format income statement. CHEROKEE, INC Contribution Format Income Statement Variable expenses: Fixed expenses