Cherokee Incorporated is a merchandiser that provided the following information:

Amount

Number of units sold $10,000$

Selling price per unit $ $15$

Variable selling expense per unit $ $2$

Variable administrative expense per unit $ $3$

Total fixed selling expense $ $18,000$

Total fixed administrative expense $ $13,000$

Beginning merchandise inventory $ $9,000$

Ending merchandise inventory $ $25,000$

Merchandise purchases $ $87,000$

Required:

Prepare a traditional income statement.

Prepare a contribution format income statement.