Cherokee Incorporated is a merchandiser that provided the following informatio Amount Number of units sold 10,000 Selling price per unit $ 16 Variable selling expense per unit $ 1 Variable administrative expense per unit $ 2 Total fixed selling expense $ 20,000 Total fixed administrative expense $ 16,000 Beginning merchandise inventory $ 12,000 Ending merchandise inventory $ 25,000 $ 87,000 Merchandise purchases 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, Incorporated Traditional Income Statement Selling and administrative expenses: 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a contribution format income statement. Cherokee, Incorporated Contribution Format Income Statement Variable expenses: Fixed expenses: 0 0