Cherokee Incorporated is a merchandiser that provided the following information:

Amount

Number of units sold $11,000$

Selling price per unit $ $17$

Variable selling expense per unit $ $2$

Variable administrative expense per unit $ $1$

Total fixed selling expense $ $18,000$

Total fixed administrative expense $ $16,000$

Beginning merchandise inventory $ $11,000$

Ending merchandise inventory $ $22,000$

Merchandise purchases $ $90,000$

Required:

$1.$ Prepare a traditional income statement.

$2.$ Prepare a contribution format income statement.