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is this on the right track? am I doing something wrong? please explain. ale Saved Cherokee Inc. is a merchandiser that provided the following information:
is this on the right track? am I doing something wrong? please explain.
ale Saved Cherokee Inc. is a merchandiser that provided the following information: Amount 13,000 A A A Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases A A 21,000 14,000 10,000 22,000 87,000 A A A Required: 1. Prepare a traditional income statement 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Complete this question by entering your answers in the tab Required 1 Required 2 Prepare a traditional income statement. $ Cherokee, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses $ 21,000 Administrative expenses 13,000 221,000 75,000 146,000 34,000 112,000 Net operating income $ Rei Y IL 3 Veek riduce Complete this question by entering your answers in the tabs below. nts Required 1 Required 2 Prepare a contribution format income statement. eBook Hint Print $ 221,000 References Cherokee, Inc. Contribution Format Income Statement Sales Variable expenses | Cost of goods sold $ 75,000 Selling expenses 26,000 Administrative expenses 13,000 114,000 Fixed expenses Selling expenses Administrative expenses [ 21.000 13,000 34.000 80 000 Net operating income $Step by Step Solution
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