Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 13,000 Selling price per unit 16 Variable selling expense per unit 1 Variable administrative expense per unit 3 Total fixed selling expense $ 19,000 Total fixed administrative expense $ 14,000 Beginning merchandise inventory $ 12,000 Ending merchandise inventory $ 22,000 Merchandise purchases $ 89,000 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. Required 1 Required 2 Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Selling and administrative expenses 0 Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 13,000 Selling price per unit 16 Variable selling expense per unit 1 Variable administrative expense per unit 3 Total fixed selling expense $ 19,000 Total fixed administrative expense $ 14,000 Beginning merchandise inventory $ 12,000 Ending merchandise inventory $ 22,000 Merchandise purchases $ 89,000 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. Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Inc. Contribution Format Income Statement Variable expenses: 0 Fixed expenses 0