Cherokee Incorporated is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable administrative expense per unit Variable selling expense per unit Total fixed selling expense Total fixed administrative expense Ending merchandise inventory Merchandise purchases Beginning merchandise inventory Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Amount 11,000 $ 17 $ 1 $ 3 $ 19,000 $ 14,000 $ 10,000 $ 23,000 $ 86,000