Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 13,000 Selling price per unit $ 15 Variable selling expense per unit 1 Variable administrative expense per unit $ Total fixed selling expense $ 19,060 Total fixed administrative expense $ 14, 090 Beginning merchandise inventory $ 11, 000 Ending merchandise inventory $ 26, 000 Merchandise purchases $ 90, 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, Incorporated Traditional Income Statement Sales $ 195,000 Cost of goods sold 90,000 Gross margin Selling and administrative expenses. Selling expenses Administrative expenses Selling expenses Administrative expenses Net operating income $ 35,000 Required 1 Required 2 >