ences Marwick's Pianos, Incorporated, purchases pianos from a manufacturer for an average cost of $1,510 per unit and then sells them to retail customers for an average price of $3,100 each. The company's selling and administrative costs for a typical month are presented below Costs Selling Advertising Sales salaries and commissions Delivery of planos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment Cost Formula $958 per month $4,806 per month, plus 5% of sales $60 per piano sold $663 per month $4,912 per month $13,587 per month $685 per month $2,537 per month, plus $42 per plano sold $891 per month During August, Marwick's Pianos, Incorporated, sold and delivered 61 pianos Required: 1. Prepare a traditional format income statement for August 2. Prepare a contribution format income statement for August. Show costs and revenues on both a total and a per-unit basis down through contribution margin. Prepare a traditional format income statement for August. Note: A "Net operating loss" should be entered as a negative number. Marwick's Pianos, Incorporated Traditional Income Statement For the Month of August Selling and administrative expenses Selling expenses Total selling expenses Administrative expenses: 0 Total administrative expenses 0 Total selling and administrative expenses 0 Required 1 Require Required 1 Required 2 Prepare a contribution format income statement for August. Show costs an down through contribution margin. Note: A "Net operating loss" should be entered as a negative number. Marwick's Pianos, Incorporated Contribution Format Income Statement For the Month of August Variable expenses Total variable expenses Contribution margin Fixed expenses: Total fixed expenses Total Per Piano 0 Reauiced 1 0