Cherokee Incorporated is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable administrative expense per unit Total fixed selling expense x Variable selling expense per unit Total fixed administrative expense nces Ending merchandise inventory Merchandise purchases Beginning merchandise inventory Amount 12,000 $ 15 $ 1 $ 2 $ 22,000 $ 14,000 $ 9,000 $ 26,000 $ 87,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.