Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 12,000 Selling price per unit $ 15 Variable selling expense per unit $ 1 Variable administrative expense per unit $ 2 Total fixed selling expense $ 19,000 Total fixed administrative expense $ 14,000 Beginning merchandise inventory $ 10,000 Ending merchandise inventory $ 22,000 Merchandise purchases $ 89,000 1. Prepare a traditional income statement.