Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,506 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 $955 per month $4,790 per month, plus 4% of sales Sales salaries and commissions Delivery of pianos to customers $58 per piano sold Utilities $654 per month Depreciation of sales facilities Administrative: $5,094 per month Executive salaries $13,452 per month $703 per month s2,534 per month, plus $40 per piano sold Insurance Clerical Depreciation of office equipment $925 per month During August, Marwick's Pianos, Inc., sold and delivered 61 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. 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 2 Required 1 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 Fixed expenses: Total fixed expenses