Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,496 per unit and then sells them to retail customers for an average price of $3,400 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: ventive salaries Insurance Clerical Depreciation of office equipment $940 per month $4,787 per month, plus 68 of sales $59 per piano sold $666 per month $5,100 per month $13,471 per month $686 per month $2,545 per month, plus $43 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 Pianos, Inc. Marwick's Pianos, Inc. Traditional Income Statement For the Month of August Selling and administrative expenses: Selling expenses: 0 Total selling expenses Administrative expenses: Total administrative expenses 0 Total selling and administrative expenses 0 Contribution Format Income Statement For the Month of August Total Per Piano Variable expenses: Total variable expenses 0 0 Contribution margin Fixed expenses: Total fixed expenses 0