Cherokee Incorporated is a merchandiser that provided the following information: Variable selling expense per unit Amount Number of units sold 13,000 Selling price per unit $ 16 $ 1 Variable administrative expense per unit $ 1 $ 19,000 Total fixed administrative expense $ 14,000 Total fixed selling expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. $ 11,000 $ 25,000 $ 86,000