Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,513 per unit and then sells them to retail customers for an average price of $2,500 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 $953 per month $4,818 per month, plus 5% of sales $63 per piano sold $666 per month $4,954 per month Administrative: $13,441 per month $697 per month $2,549 per month, plus $40 per piano sold $893 per month Executive salaries Insurance Clerical Depreciation of office equipment During August, Marwick's Pianos, Inc., sold and delivered 64 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. 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 Pianos, Ind Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses Total selling expenses Administrative expenses: Total administrative expenses Total selling and administrative expenses