2-19 CotfribtmM1 Format versus Income Stawment a-026] Marwick's Pianos. Inc., wrchases pianos from a large manufacturer and sells them at the retail level. The pianos cost, on the average, $2,450 each from the manufacturer. Marwick's Pianos, Inc.. sells the pianos to its customers at an average price of S3.125 each. The selling and administrative costs that the company Incurs in a typical month are presented below: Sellirg: Advertising _ Sales salaries and commissions Deliver/ of pianos to customers Utilities Depreciation of sales facilities _ Admin trative: Executive salaries Insurance _ _ . Depreciation of offce equipment _ S700 month 950 per month, plus 8% of sales $30 per piano sdd $350 per month $800 per month $2,500 pg month $400 per month S 1000 pg month. plus $20 per piano sold $300 per month During August, Marwick's Pianos, Inc., sold and delivered 40 piarws. 2. 3. Prepare an income statennt for Marwick's Pianos, Ince for August. Use the traditional for- mat. with uFts cyganized by function. Redo (I) above. this tirne using the contribution format, with costs organized hy tkhavior. Show costs and revenues on toth a total and a unit basis down through contribution margin. Refer to the inconk statement ycml prepared in (2) above. Why might it be misleading to show the fixed costs on a unit basis?