Help Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,502 per unit and then sells them to retail customers for an average price of $2,800 each. The company's selling and administrative costs for a typical month are presented below: Cost Formula Costs Selling: Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $959 per month $4,799 per month, plus 41 of sales $62 per piano sold $640 per month $4,974 per month $13,522 per month $691 per month $2,453 per month, plus $40 per piano sold $928 per month During August, Marwick's Pianos, Inc., sold and delivered 55 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional format income statement for August. (A "Net operating loss should be entered as a negative number.) Marwick's Planos, Inc. Traditional Income Statement of August - Marwick's Planos, Inc. Traditional Income Statement For the Month of August 5 Ints eBook Selling and administrative expenses: Selling expenses: Print 0 Total selling expenses Administrative expenses: 0 Total administrative expenses Total selling and administrative expenses 0 Regulred Required 2 2 Contribution Format Income Statement For the Month of August Total Per Piano 3.5 points Variable expenses: eBook Print 0 0 Total variable expenses Contribution margin Fixed expenses Total fixed expenses 0