Cherokee Incorporated is a merchandiser that provided the following information:

                                                                                     Amount

Number of units sold $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 1}2,000$

Selling price per unit                                               $ $17$

Variable selling expense per unit                             $ $2$

Variable administrative expense per unit           $ $3$

Total fixed selling expense                                   $ $21,000$

Total fixed administrative expense                    $ $15,000$

Beginning merchandise inventory                       $ $10,000$

Ending merchandise inventory                         $ $24,000$

Merchandise purchases                                    $ $87,000$

Required:

$1.$ Prepare a traditional income statement.

$2.$ Prepare a contribution format income statement.