Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold Selling price per unit 13,000 $ 17 Variable selling expense per unit $ 2 Variable administrative expense per unit $ 3 Total fixed selling expense $ 18,000 Total fixed administrative expense $ 15,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory Merchandise purchases $ 24,000 $ 89,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.