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 13,000 $ 17 $ 2 $ 3 $ 20,000 $ 15,000 $ 10,000 $ 25,000 $ 87,000 ok 4 Ending merchandise inventory Merchandise purchases $ 25,000 $ 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. Book Required 1 Required 2 Print Prepare a traditional income statement. erences Cherokee, Inc. Traditional Income Statement Selling and administrative expenses: Required 2 > 4 Complete this question by entering your answers in the tabs below. Required 1 Required 2 0.25 points Prepare a contribution format income statement. Cherokee, Inc. Contribution Format Income Statement eBook Variable expenses: Print References Fbred expenses