Cherokee Inc. is a merchandiser that provided the following information 2. Prepare a contribution format income statement. Number of units sold 11,000 15.00 $ 2.00 S 1.50 19,000 15,000 12,000 26,000 85,000 Variable expenses 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 CHEROKEE, INC Contribution Format Income Statement Required 1. Prepare a traditional income statement. CHEROKEE, INC Traditional Income Statement Fixed expenses: Selling and administrative expenses