Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 12,000 Selling price per unit $ 16.00 Variable selling expense per unit $ 1.00 Variable administrative expense per unit $ 1.50 Total fixed selling expense $ 20,000 Total fixed administrative expense $ 16,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 24,000 Merchandise purchases $ 87,000

I need to 1. Prepare a traditional income statement and 2.prepare a contribution income statement