Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,486 per unit and then sells them to retail customers for an average price of $2,100 each. The company's selling and administrative costs for a typical month are presented below: Costs Selling Cost Formula Advertising Sales salaries and commissions Delivery of pianos to customers Utilities Depreciation of sales facilities $949 per month $4,792 per month, plus 4% of sales $61 per piano sold $644 per month $4,925 per month Administrative: Executive salaries Insurance Clerical Depreciation of office equipment $13,582 per month $682 per month $2,508 per month, plus $36 per piano sold $879 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 1Required 2 Prepare a traditional format income statement for August. (A "Net operating loss" should be entered as a negative number.) 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 Complete this question by entering your answers in the tabs below. Required 1 Required 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. (A "Net operating loss" should be entered as a negative number) Marwick's Pianos, Inc. Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses: Total variable expenses Contribution margin Contribution margin Fixed expenses: Total fixed expenses Required 1 Required 2