Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1.491 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: 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 $960 per month $4,828 per month, plus 4% of sales $57 per piano sold $661 per month $5,011 per month $13,559 per month $692 per month $2,468 per month, plus $42 per piano sold $922 per month During August, Marwick's Planos, Inc., sold and delivered 62 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 Marwick's Pianos, Inc. 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 Required 2